Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

OPEC will not have any influence on oil prices

Market Insanity

Nine Off the Wall Economic and Financial Predictions for 2017

The price of bitcoin might exceed the price of an ounce of gold for the first time. This prediction is not as crazy as you might think. On December 24, 2016, an ounce of gold was trading at $1,136.90 and a bitcoin was trading for $891.75. That means the price difference between Bitcoin and gold is just $352.14. Now consider the fact that Bitcoin doubled in value over the course of 2016, it was trading at $442.50 on December 20, 2015 and $891.75 on Christmas Eve 2016. Gold prices also increased from $1083.50 on December 21, 2016, to $1,137.30 on December 24, 2016. If gold and bitcoin repeat their performance next year, bitcoin will be more valuable than gold.

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