Posted inThe Chain

Bitcoin will soar to $300K-$500K: gold analyst

Dan Tapiero, co-founder of Gold Bullion International, is convinced that bitcoin’s price will soar to between $300,000 and $500,000.  During an interview with Morgan Creek’s Anthony Pompliano on the Pomp Podcast, Tapiero said bitcoin will appreciate much faster than gold, but stressed that investors should have both in their portfolios. “In the next five years, I […]

Posted inUnited StatesWorld

Why Bitcoin rallying with gold is an ominous sign

Bitcoin’s resurrection is thought to be Mark Zuckerberg’s doing. Facebook’s sudden entry into the cryptocurrency space, many insist, gave digital money a new lease on life. That is, until you consider the simultaneous rally in gold. Bitcoin’s surge above US$11,000 only has one possible connection with the yellow metal’s jump above $14,000: a US dollar in jeopardy. […]

Posted inThe Chain

Bitcoin sentiment reaches all-time high

One week after the Bitcoin rewards halving, investors are speaking more positively about the coin than they have at any point over the last 2.5 years according to crypto data company The TIE, Cointelegraph reported. CEO Joshua Frank said the 30-day average daily sentiment score – the number of positive reviews in relation to the […]

Posted inThe Chain

Crypto scores a goal in Turkey

It is one of the surest signs yet that crypto is going mainstream – an exchange in Turkey is sponsoring the country’s women’s and men’s national soccer teams, Cointelegraph Turkey reports. The company’s 28-month deal with the Turkish Football Federation purportedly makes BtcTurk the first cryptocurrency platform to sign a sponsorship deal with a national soccer […]

Posted inAT+

Gold like the price of life insurance on the Titanic

Most US economic indicators point to a continued deterioration due to America’s failure to control the Covid-19 pandemic.

The US will continue to need massive government stimulus financed by the Federal Reserve’s balance sheet, which is up by $3 trillion to $7 trillion since February. It is expected to grow to $10 trillion by year-end to maintain consumption levels, according to Bank of America Global Research. Congress has so far failed to agree on a new stimulus package.

Consider the gloom and doom data:

Posted inThe Chain

Bitcoin’s growing correlation with gold

As bitcoin (BTC) soared to its 2020 high of $11,392 this week, its correlation with gold increased and at the moment, according to data from CryptoCompare, BTC’s monthly correlation with gold on daily returns sits at 0.66, Cointelegraph reports. The correlation started to increase as gold broke through $1,900, nearing a new high before pulling back […]