Global markets analyst and economist Alex Krüger points to an important development that will affect gold, silver and Bitcoin. Alex Krüger believes gold, silver and Bitcoin will rise rapidly if the Democrats dominate the upcoming presidential elections.
Alex Krüger: If Democrats dominate, gold, silver and Bitcoin soar
Strategists fear that a Joe Biden presidency could result in tax increases and more regulation. Both factors can put pressure on the economy and the stock market. US dollar sentiment is typically dependent on the state of the economy. Hence, the dollar began to fall as COVID-19 spread rapidly to the US.
Underperformed against reserve currencies such as the dollar, yen, yuan, and francs in the last six months. According to analysts, if the Joe Biden election causes the US dollar to drop sharply, it could feed gold and Bitcoin, which is valued against the dollar. Famous economist Alex Krüger said:
VERY IMPORTANT VIEWS ABOUT A DEMOCRATIC CLEAN SCAN: WEAK DOLLARS. PRECIOUS METALS FLY UP AGAIN. SILVER INCREASING DUE TO A SOLAR PANEL. BASE METALS COMES OUT, ESPECIALLY COPPER. CRUDE OIL IS DAMAGED. BITCOIN IS FIRING ...
Suresh Tantia: A falling dollar and a stagnant stock market trend could stimulate sentiment around Bitcoin and gold
Strategists at large investment banks predict that a similar situation will occur. According to Credit Suisse senior investment strategist Suresh Tantia, the stock market may recover the effects of a 5% slump upon selection. Suresh Tantia stressed that the scale support from the Central Bank does not do much for stocks. Similarly, this did not have a significant impact on the dollar, which showed no signs of recovery.
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