Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume

-

Nic Carter, is a highly respected cryptocurrency researcher. He recently stated that Bitcoin has eventually surpassed the OTC gold market most especially in terms of settlement volumes, undermining the 70 percent fall in its price.
In accordance to the clearing statistics of the London bullion market (LBMA), about five major clearing members of the LPMCL which includes HSBC, ICBC Standard Bank, Scotiabank, JP Morgan, and UBS, the global gold over-the-counter (OTC) market is now on track to settle about $446 billion in 2018, after it had settled just less than $30 billion on a monthly basis ever since January.
Carter explained:

“I’m conservatively estimating the London OTC market for gold, overseen by the LBMA, at 70% of global volumes. They publish clearing statistics. With these I can estimate the total net volume of regulated gold settlement at $446b for 2018 (based on 6 months of data). Conservatively, (adjusted estimates), Bitcoin has settled about $848b this year, and it is on it way to settle about $1.38T. Currently, Bitcoin has quietly surpassed the OTC gold market most especially in terms of settlement volumes.”
https://dictoms.com/despite-its-70-price-drop-bitcoin-surpassed-gold-in-settlement-volume/

Comments

Post a Comment

Popular posts from this blog

Three Reasons why Bitcoin is Programmed to Pump

-
Image
I saw an article online and it was well articulated about Bitcoin being programmed to pump. I made a video about it. Highlighting the view of the writer. Despite non-stop criticism, obituaries, and competition from altcoins, Bitcoin has undeniable advantages — ensuring that its value will keep rising for decades to come. It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy. Satoshi Nakamoto, 1/17/2009 Here are the reasons 1. The Hard Supply Cap 2. No One is in Control 3. The Lindy Effect
Read more

Four Events that will trigger the next Global Financial Crises

-
Image
There are some foretelling signs that shows that the global financial crises is looming, For some times now, Governments around the world are facing an upward task of balancing there sheet when it comes to financing. But the inevitable is here. The governments are in territories that have never been before. The interest is at its lowest in decades and Quantitative Easing is no longer feasible. Printing more money will lead to hyperinflation. Everything is pointing to a looming doom! Here are the four Events as it unfold 1. Government Debt As said earlier that we are now in the territories we have never been before in history of humanities. The Global Financial Debts is in trillions of Dollar. The world reserved currency ($) is weakening by the minutes. Interest is at its all time low and debts are at all time highs. It is not the matter of when that we are going to succumb to the load of debts. We are only hanging by a thread. 2. Negative Stock Market Returns
Read more

When the Game is Rigged, you don't have to Play by the Rules

-
Image
When the game is rigged, you don't have to play by the rules. Since the start of time, powerful empires have risen through history. And the one major prerequisites for glory and power had always been a standard financial system. Be it Ancient Egyptian or Babylonia or even recently Rome, wealth have been the driving force that spurred these empires forward. They could command great armies, buy Calvary and acquire the state of the art technology that gave them an edge in produc tion, industrialization and warfare. Not taking anything away from the industriousness of these empires, a spark that ensured they stayed in power is they knew something other nations didn't. They knew that the game of wealth was rigged and you need not play by the general rules to win. Of course they preached about the real 'rules' of the game but then they played by the rigged rules that ensured their victory. That pattern has been carried into modern empires of America and China.
Read more