Bitcoin (BTC) To Record A Trading Volume By Two Times Larger Than Gold In 2018
Bitcoin (BTC) is the leading cryptocurrency in the market, by market capitalization, commonly dubbed as “The King of Crypto” or “digital gold.” And, without a doubt, Bitcoin (BTC), the first crypto coin in the world, still deserves its comparison with gold and has a lot to offer for the crypto-verse. A recent report shows that Bitcoin (BTC) recorded a trading volume by two times larger than gold, in 2018, so far.
Accordingly, despite the bearish market that characterized the leading cryptocurrency in the market since the beginning of the year, Bitcoin managed to score massive trading volumes since 2017. First spotted by the social media VIP, Kevin Rooke, the BTC’s trading volumes in the 2017-2018 period move towards $1.1 trillion, while the gold is struggling at around $0.4 trillion, at this moment.
“Bitcoin has been clearing more tx volume than global gold markets since early 2017. BTC – on pace to process $1.1 trillion in 2018 transactions; Gold – on pace to process $0.4 trillion in 2018 transactions,” said Kevin Rooke on Twitter.
Bitcoin (BTC) to hit a trading volume by two times larger than gold in 2018
According to the data presented by Kevin Rooke, Bitcoin (BTC) started to surpass gold regarding trading volume when 1 BTC hit parity with 1 ounce of gold, the precious metal that has been the de facto store of value for millennia.
The recent stats please the Bitcoin community whose members have always considered Bitcoin capable of being the new de fact store of value instead of gold. Even more, many crypto market analysts began thinking in the same lines, and, for example, Willy Woo, a renowned crypto expert, said earlier this month that Bitcoin (BTC) would surge significantly after a short dump, comparing the leading cryptocurrency case with that of gold during the Wall Street Financial Crisis.
Also, the Winklevoss twins have also said that Bitcoin (BTC) could appreciate by 30 or 40 times if the leading cryptocurrency of the world could surpass the gold market.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.