Submitted By Ahmed Bin Sulayem, Executive Chairman of DMCC in Dubai It’s been a busy few weeks for both Bitcoin (BTC) fans and gold hawks, with both assets reaching record highs on the back of soaring inflation, market volatility and high rates, and while both assets typically attract quite polarising investors, their simultaneous rallies are united in their speculation that the U.S. and other western economies may not be able to maintain high interest rates, given their sky-high debts.
As stated by XTB research director Kathleen Brooks , “When gold and bitcoin rise in unison, it is worth interrogating the reasons behind this, in case they can give us clues about investor behaviour. Both seem to be rallying on the back of the overall market mood: U.S., Japanese and several European indices have made fresh record highs recently. However, for gold and bitcoin there are other internal factors at play […]
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