{"id":10428,"date":"2020-03-25T04:27:17","date_gmt":"2020-03-25T04:27:17","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=10428"},"modified":"2020-03-25T04:27:20","modified_gmt":"2020-03-25T04:27:20","slug":"news-commentary-1020-some-thoughts-on-btc-and-gold","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=10428","title":{"rendered":"News Commentary #1,020 – Some Thoughts on BTC and Gold"},"content":{"rendered":"\n

The Outlook is Good?<\/strong><\/p>\n\n\n\n

Here\u2019s an edited article about the future for BTC and Gold by \u201cRick D,\u201d that recently appeared in Bitcoin News<\/em>.  Many online investors have an interest in cryptocurrencies and, perhaps, gold and silver.  You may find the following interesting\u2026<\/p>\n\n\n\n

Mike Novogratz Says Gold\u2019s Rally Is Just Getting Started, Cheers Bitcoin<\/strong><\/p>

The gold price is once again approaching its local high of close to $17,000. Long-time\u00a0Bitcoin\u00a0advocate and Galaxy Digital CEO Mike Novogratz is expecting the rise to continue into the future.<\/p>

As\u00a0BeInCrypto<\/em>\u00a0reported last week, the price of gold took a\u00a0serious hit\u00a0as part of a wider selloff across global markets. After topping at almost $1,700, the precious metal plunged below $1,480. The CEO of Euro Pacific Capital, Peter Schiff, blamed the selloff on\u00a0\u201cclueless\u201d investors,\u00a0unaware of the \u201cconsequences of the current monetary and fiscal policy mistakes\u201d for the drop.<\/a><\/p>

Gold is falling because investors are clueless as to what is coming. Their mindset is similar to that of central bankers. They have no idea how bad the consequences of the current monetary & fiscal policy mistakes will be. When they figure it out en masse, #gold will skyrocket.<\/p>

Gold Rallies Following Major Stimulus Efforts<\/strong><\/p>

Following what many have described as the worst weeks of trading since the 2008 financial crisis, central banks around the world have started coming forward with their efforts to stimulate economies. As highlighted in the following tweet, the US\u00a0Federal Reserve, European Central Bank, Bank of England, People\u2019s Bank of China, IMF, and other major institutions will be creating trillions of dollars combined to prop up struggling markets.<\/p>

Money printing:

IMF: $1 trillion
European Central Bank: $821B+
US Federal Reserve: $700B+
Peoples Bank of China $100B+
Bank of England England: $330B+
Reserve Bank of India: $13.5B+
Bank of Australia: $5.5B+

This is why Bitcoin was created.<\/p>

Following recent news of \u201cunlimited quantitative easing\u201d from the US central bank, both gold and\u00a0Bitcoin have responded positively.\u00a0The Bitcoin price continues to rally following a massive recent price drop. At the time of writing, BTC has gained slightly more than 11 percent over the last 24-hours and trades just short of $6,650.<\/p>

Meanwhile, gold also bounced after one of the worst short-term price moves in its own recorded price history. As Galaxy Digital\u2019s Mike Novogratz highlights below, the precious metal is now \u201calmost back to its highs.\u201d<\/p>

Gold is almost back to it highs. I believe it\u2019s going much higher. Let\u2019s go $BTC. Get on your horse and ride. Same thesis.<\/p>

Stores of Value or Shrewd Speculative Buying?<\/strong><\/p>

Mike Novogratz says that he thinks the precious metal will go a lot higher. Although not explicit above, it\u2019s clear from his other statements that he thinks assets without the wildly fluctuating monetary policies of fiat currencies will benefit from the emerging macro environment.<\/p>

$BTC will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC\u2019s year.<\/p>

With both Bitcoin and gold responding almost immediately to efforts to stimulate markets, it\u2019s easy to draw the conclusion that central banks printing money has irked holders of fiat currency. Attacks on savings in the form of inflation may well have caused them to seek out safe-haven assets. However, it\u2019s equally feasible that the prices are moving because speculators believe central bank policy will encourage greater investment and they stand to make a quick buck by trading the expected moves.<\/p>

It\u2019s too soon to tell the cause of the recent gold and Bitcoin buying. However, as\u00a0BeInCrypto<\/em>\u00a0previously reported,\u00a0gold has performed\u00a0well after a large selloff following global crises in the past. Between 2008 and 2011, gold rallied to its all-time high following a massive selloff coinciding with the global financial crisis. If the much-repeated \u201cdigital gold\u201d analogy for Bitcoin holds true, both gold and Bitcoin may indeed benefit in the fallout of the recent market crashes.<\/p><\/blockquote>\n\n\n

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The Outlook is Good? Here\u2019s an edited article about the future for BTC and Gold by \u201cRick D,\u201d that recently appeared in Bitcoin News.  Many online investors have an interest in cryptocurrencies and, perhaps, gold … News Commentary #1,020 – Some Thoughts on BTC and Gold<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[139,1874,3544,4003,4005,3546,4004,4009,4008,4007,4006],"class_list":["post-10428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-bitcoin","tag-bitcoin-insights","tag-bitcoin-news","tag-bitcoin-on-emilynews","tag-bitcoin-up-or-down","tag-bitcoin-update","tag-btc-update","tag-coronavirus-crypto","tag-covid19","tag-cryptomarket-news","tag-ethereum-trend","exalt-entry"],"yoast_head":"\nNews Commentary #1,020 - Some Thoughts on BTC and Gold - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=10428\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Commentary #1,020 - Some Thoughts on BTC and Gold - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The Outlook is Good? 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