Bitcoin investors and bulls are once again looking lively on Tuesday as after Goldman Sach’s call to buy gold in the Coronavirus-induced market turbulence generated comparable possibilities for the Bitcoin and Altcoin market.
A commodity researcher at Goldman Sachs Jeffrey Currie said that the Gold has reached an “inflection point” after the Federal Reserve declared that it would purchase an unlimited amount of securities and Treasury that are backed by the mortgage bonds.
Bitcoin Price Eyes Price Increase
Many people believe that Bitcoin price will not recover its past reputation but the CEO of Galaxy Digital Mike Novogratz said that it requires limelight in the year 2020. He tweeted:
In the last 15 days, the Bitcoin price has seen some completely insane price fluctuations like dropping by almost 50% to reaching and recovering approximately 80% of this huge fall. Right now, the bulls and bears are fighting for another crucial progress, with Bitcoin price touching $6,000.
The Bitcoin Price and Gold both are exceptional commodities. The crypto market and fiat market both are currently facing a huge drop because of coronavirus but as Gold is a safe-haven asset and it acts as a boundary on inflation in financial crises such as now. In the long run, bitcoin’s conservative characteristics will make its long-term value similar to that of gold.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Bitcoin News
This article is an april fools joke. The crypto-enthusiasts were in for a massive treat today, as instant crypto conversion platform …
This article is an april fools joke. The President of the United States, Donald Trump, is taking unusual measures …
The Bitcoin price has recovered admirably but was helpless to break the resistance at the golden ratio. Is Bitcoin continuing …