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Gold and Bitcoin as an investment: tips and risks from the financial expert
According to a report by erkrath.jetzt, gold and Bitcoin remain a risky business despite current price increases, as Ralf Scherfling, financial expert at the NRW Consumer Center, warns. The value of a troy ounce of gold is currently almost $2,000, just below the all-time high from summer 2020. The cryptocurrency Bitcoin rose to over $33,000 at the beginning of November - a new annual high. However, the price development of both investment options is like a roller coaster ride, which indicates the speculative nature of the investments. Gold as an investment is often described as crisis-proof because it never completely loses its value. Nevertheless, this is not a safe form of investment, as the value alone...
Gold and Bitcoin as an investment: tips and risks from the financial expert
According to a report by erkrath.now, gold and Bitcoin remain a risky business despite current price increases, as Ralf Scherfling, financial expert at the NRW Consumer Center, warns. The value of a troy ounce of gold is currently almost $2,000, just below the all-time high from summer 2020. The cryptocurrency Bitcoin rose to over $33,000 at the beginning of November - a new annual high. However, the price development of both investment options is like a roller coaster ride, which indicates the speculative nature of the investments.
Gold as an investment is often described as crisis-proof because it never completely loses its value. Nevertheless, this is not a safe form of investment as the value depends solely on the price increase and possible currency gains. The development of the gold price depends on many factors, including interest rate developments. The North Rhine-Westphalia Consumer Center recommends only holding gold as an admixture of five to a maximum of ten percent of your assets. When selling gold jewelry, coins or dental crowns, it is important to obtain comparative offers and to know the gold content and weight of the pieces in order to achieve an appropriate price.
Bitcoin has experienced extreme fluctuations over the past decade, making it an object of speculation with a high risk of loss. Cryptocurrency is also legal tender almost nowhere and is not controlled by any central bank, government or regulator. The North Rhine-Westphalia consumer advice center recommends that you only hold Bitcoin as a maximum of five percent of your assets and only buy it with money that you can do without in case of doubt.
Investors and investors should keep these warnings in mind as both gold and Bitcoin are showing strong short-term price increases. It is important to appropriately assess the risks and appropriate amount of these investments to avoid financial losses.
Read the source article at erkrath.jetzt