Bitcoin Competes With Gold in an Epic Smackdown

New York (Sept 13)  There is a fierce debate dividing people: is Bitcoin the new gold? During turbulent times such as a hurricane or North Korea's nuclear threats, we have seen money shifting to safe haven assets such as Bitcoin and gold. Of course, Bitcoin investors swear by the fact that the cryptocurrency has more upside.

But gold is demonstrating a little more stability.On Friday, Gold prices traded at one-year high on, helped by a broadly weaker U.S. dollar and lingering concerns over North Korea tensions with the rest of the world.

On the other hand, Bitcoin fell after of Chinese regulators imposed a ban on individuals and businesses from raising funds through initial coin offerings (ICOs). On Tuesday, Bitcoin's valuation fell another 2% after JPMorgan (JPM - Get Report) CEO slammed Bitcoin as "worse than tulip bulbs" at the 7th Annual Delivering Alpha Conference.
•Will the Plunge in Bitcoin Crush AMD And Nvidia?

Both media and investment professionals have mixed views on the rising popularity of Bitcoin, but despite conflicting views, Bitcoin has become impossible to ignore and is behaving in a similar way to the metal of Midas. There are a number of reasons behind this.

TheStreet