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Bitcoin and Gold Should Be Driven by Same Macro: Galaxy Digital CEO Mike Novogratz

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  • Alex Dovbnya
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    When it comes to choosing between gold and Bitcoin, Mike Novogratz believes that you can have both

Bitcoin and Gold Should Be Driven by Same Macro: Galaxy Digital CEO Mike Novogratz
Cover image via twitter.com

Galaxy Digital CEO Mike Novogratz has recently taken to Twitter to weigh in on the everlasting Bitcoin vs. gold debate. The crypto boss says that he's long on both of these assets, and he believes that they should be driven by the same macroeconomic factors. 

Novogratz responded to the tweet posted by VanEck's digital asset strategist Gabor Gurbacs where he opined that real Bitcoiners should appreciate gold in the wake of an "ill-informed" Grayscale commercial

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Grayscale, the world's largest cryptocurrency asset manager, recently debuted a new ad as part of its "Drop Gold" campaign. The tongue-in-cheek video underscores how ridiculous the yellow rock looks in the modern digital world. 

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Euro Pacific Capital CEO Peter Schiff was quick to react to the second wave of Grayscale's anti-gold push, predicting that it could end up being "one of the worst timed" financial ever. He didn't mince words for Bitcoin, calling the top coin "a mere footnote in financial history" and "fool's gold."

As reported by U.Today, the vocal Bitcoin hater forecasted that the price of Bitcoin could drop to as low as $200. 

Would you still buy gold while owning Bitcoin? Share your take in the comments!    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says

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  • Yuri Molchan
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    A crypto trader analyses a crucial fractal on the chart, saying that a possible outcome could be $0.56 for 1 XRP by early December

XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Despite the active expansion of the Ripple ecosystem and signing up over 300 new customers on RippleNet this year, the XRP price remains below $0.3.

At press-time, XRP is declining by 2.85 percent and is exchanging hands at $0.24.

XRP price CMC
Image via CoinMarketCap

A win-or-bust XRP forecast

The community has been eager for the price to surge throughout 2019. On Wednesday, U.Today published a story with bullish forecasts regarding the price.

Today, a crypto trader @TheCryptHawk has shared a chart on his Twitter page. It shows a possibility of XRP surging to $0.56 in early December if the fractal depicted on the chart in in play.

If not, the trader says, the price may collapse to $0.17-$0.18 and then – down to $0.12.

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XRP below the $0.25 support

A short while ago, XRP dropped below the $0.25 support level, where the coin had not been in several months. This is happening despite the recent Swell conference, which was expected to push the coin’s price way upward.

The community was expecting a bull run, since last year in November, as many believe, Swell triggered it. As a result, in January 2018 XRP hit its all-time high of over nearly $4.

This year, the loyal XRP community expects a bull run every now and then but all those expectations are in vain so far. This seems strange to many, since Ripple has indeed expanded its network significantly and provided a lot of actual utility cases for XRP.

Optimists are buying on the dip while the price is low (same as many doing when the Bitcoin price drops), hoping to reap their profits later on when XRP skyrockets.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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