Forbes Author Believes that BTC Could be the Next Gold

You may have heard of Clem Chambers, the popular entrepreneur from England who is an author for Forbes. Recently, Chambers has claimed that Bitcoin is slowly but surely ceding ground to gold in his recent analytical article. On top of this, he also voices his very bullish price prediction, declaring the end of the onerous crypto winter.

Chambers goes on to highlight that gold has remained the best option for a store of value for a long time. For a lot of investors, it serves as a hedge asset against equities. But what about Bitcoin?

Looking at Google Trends shows us that the interest in Bitcoin has surged massively over the last few years. Even though it is far below the 2017 level, it is still almost on the same mark as gold when it comes to popularity in the US.

There is a big difference between Bitcoin and gold though. Not just in what they are as assets but the market cap for the two is miles apart. Gold market cap is around $5 trillion whereas Bitcoin is hovering around the $0.09 trillion area.

Bright future

Earlier this month, the crypto market woke up to see Bitcoin had made some significant gains. The leading cryptocurrency had (and still is) surged enough that it went over the $5,000 mark.

Since then, a lot of enthusiasts have been very bullish on Bitcoin’s future, with trading legend Peter Brandt assuming that the leading cryptocurrency could be on the verge of a new “parabolic phase”.

Chambers is confident that $6,000 is a good target for Bitcoin, though he did say that $10,000 isn’t an unrealistic prediction for the end of year target either.

That being said, yesterday the markets were seen bleeding red but BTC was still able to keep above the $5,000 mark. The price of Bitcoin at the time of writing is $5,231 following a 2.63 percent over the past 24 hours according to CoinMarketCap. On top of this, the market cap for Bitcoin is currently sat at $92,338,053,563.