Little has changed on the Bitcoin chart since yesterday. The quotes of the main cryptocurrency moved to consolidation in a narrow zone of 47,124.39 - 48,178.13, between the blue and red dotted lines, from where a breakout is possible either up or down from a technical point of view. In case of an upward exit, growth is expected to at least the levels of 50,000 - 52,000. And in the case of a decline, the technical border is at the level of 44,807.24.

And while we are waiting, I suggest you pay attention to the perennial and still open dispute about what is better - bitcoin or gold. And the point here is not only in the personal preferences of private speculative traders but also in understanding global trends: under what circumstances large market participants will give preference to a particular instrument, forming a trend.

It is worth recalling that many believe that bitcoin is "digital gold" and are probably quite right. Here, I think, there is a struggle between old-school investors and young investors like Michael Saylor of MicroStrategy. Saylor recently noted that investing in bitcoin saved him from a multi-billion dollar mistake, which would be an investment in a precious metal. And one of the big investors in a venerable age said: "You do not understand bitcoin because you are old. I'm old and don't understand the benefits of this tool."

US Global Investors CEO Frank Holmes, in his speech at Kitco New, highlighted a number of reasons why bitcoin is a better investment than gold.

The Holmes Investment Management Fund is primarily engaged in precious metals. But he notes that the likelihood that these assets will rise in value as much as Bitcoin is extremely low in the foreseeable future.

The second reason Bitcoin is more attractive is its decentralized nature. It also has an advantage over precious metal, as it is privately owned, but very portable.

A recent survey of institutional investors showed that bitcoin's "innovative technological game" has become the second most popular factor in its appeal. What's more, BTC's presence on platforms like Reddit also opens up opportunities for young investors to invest in it.

Institutional investors are now showing increasing interest in this area. Therefore, Holmes notes, fund managers will have to re-position their offerings and diversify them in such a way as to meet customer demand for both gold and cryptocurrencies.

Institutional interest in bitcoin is only growing every day. A Fidelity study found that 37% of surveyed investors own bitcoin in their portfolio or have purchased it for client portfolios. Moreover, institutional implementation in European countries has grown by 22% compared to last year.

Therefore, we can expect the continued growth of BTC/USD in the long term, and forecasts of $100,000 per coin no longer seem fantastic.