Geopolitical uncertainty can push investors towards Bitcoin and Gold – says JP Morgan
Source Cryptopolitan
According to analysts at JP Morgan, the current war uncertainty around the globe and the US presidential elections can drive investors toward “debasement trade.” This means investors will consider gold and bitcoin more as safe assets.
“Rising geopolitical tensions and the coming U.S. election are likely to reinforce what some investors call the ‘debasement trade’ thus favoring both gold and bitcoin” Analysts at JP Morgan
While Bitcoin is facing selling pressure amid the rising tensions in Iran and Israel, gold prices have increased up to $2700 USD as of September 26th.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The USD/JPY pair trades 0.27% higher to near 153.70 during the European trading session on Wednesday.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face downside risk as bears regain control Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Gold price (XAU/USD) attracts some sellers to around $4,860 during the early Asian trading hours on Wednesday. The precious metal falls amid thin holiday trading, with much of Asia closed for the Lunar New Year.
EUR/USD Forecast: Euro weakens as risk mood soursEUR/USD struggles to find a foothold and trades at a fresh weekly low below 1.1850 after closing in negative territory on Monday. In the absence of high-impact data releases, the risk-averse market atmosphere could make it difficult for the pair to stage a rebound.
EUR/USD struggles to find a foothold and trades at a fresh weekly low below 1.1850 after closing in negative territory on Monday. In the absence of high-impact data releases, the risk-averse market atmosphere could make it difficult for the pair to stage a rebound.
Gold (XAU/USD) attracts some follow-through selling for the second straight day and slides to the $4,922 area during the Asian session on Tuesday amid thin liquidity on the back of the Lunar New Year holidays in China.
