Bitcoin and Gold are making hefty moves as investments in these safe havens continue to grow. While Gold is testing its 6-year high price near $1350, Bitcoin also moved higher towards $150 billion Mcap.
The rise in price in both these assets can be attributed to the recent economic turmoil that is gripping the economy from the Middle East, Europe, and due to the escalation between US-China trade war. The financial circumstances also point towards a rate cut by the Federal reserves in the US. Ross Norman, chief executive at bullion dealer Sharps Pixley, told the media,
“In people’s minds, there is a sense of a deeply darkening macroeconomic backdrop, in particular, the likelihood that the U.S. will drop interest rates quite soon,”
U.S. gold futures climbed 1%…