What Are The Top Candidates To Advance In 2020…?

They would be Bitcoin and gold…and I’m putting my bet on Bitcoin over everything.

Gold and bitcoin are the ‘top candidates to advance in 2020’ – Bloomberg Intelligence


“Gold and bitcoin — one of the few assets that have posted solid gains in 2020 — remain the ‘top candidates to advance’ this year, according to Bloomberg Intelligence’s latest commodity outlook.

‘Among the few assets up in this tumultuous year, gold and bitcoin are building foundations for further price appreciation. The metal and the crypto remain our top candidates to advance in 2020, with added rally fuel from Covid-19,’ Bloomberg Intelligence senior commodity strategist Mike McGlone said this week.

Both gold and bitcoin have been busy building a strong base and securing positions above $1,700 an ounce (gold) and above $9,000 (bitcoin), McGlone stated.

‘Our graphic depicts gold consolidating above what had been key resistance of $1,700 an ounce before the March swoon. Every day that passes above this level builds a firmer base for the metal to make the next move in its stair-step rally. Bitcoin is in a similar consolidation between $9,000-$10,000. We view the benchmark crypto as a resting bull that likely needs something to change significantly in its 10-or-so-year history to not just resume doing what it was doing: appreciating. If the stock market rolls over, gold and Bitcoin should gain buoyancy,’ the strategists said.”


Master Asked on June 2, 2020 in Bitcoin.
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