Bitcoin (BTC) and Gold (XAU) 'Melt-Up' Coming: Tuur Demeester
Amid the stock market collapse caused by the COVID-19 outbreak, it is hard to believe that there are analysts whose predictions still remain strikingly accurate. Tuur Demeester of Adamant Capital is one of them.
'Melt-up' instead of meltdown
It looks like this pesky 'decoupling', i.e. the disappearance of a positive correlation between the stock market indexes and the Bitcoin (BTC) price (or net crypto market capitalization) dynamics is a done deal for Mr. Demeester. Thus, he suggests his audience get prepared for the rise of the orange coin and yellow metal.
Expect not a market meltdown, rather a gold & bitcoin melt-UP.
— Tuur Demeester (@TuurDemeester) April 9, 2020
Yesterday, he compared the situation with the U.S. economy to the Great Depression of the 1920-1930s. That's how he evaluated the new jobless claims statistics as well as another series of stimulus packages.
Yuri MolchanThe perspectives of Bitcoin (BTC) reveal another story for Mr. Demeester. He believes the upcoming third Bitcoin (BTC) halving will have a positive effect on the flagship crypto price. He is treating it as a 'Quantitative Hardening' in contrast to governmental emergency measures:
Bitcoin QH3 incoming... T-minus 37 days
Bitcoin (BTC) + Gold (XAU): emergency kit?
Mr. Demeester was a seasoned advocate of Bitcoin (BTC) and Gold (XAU) investments even before this insane collapse began raging. Three weeks prior to Black Thursday, he announced that these assets will account for two thirds of his doomsday portfolio until 2040.
Vladislav SopovThese days, more and more investors and traders are adopting a similar combination for their portfolio. In recent weeks, similar announcements have been made by Mike Novogratz of Galaxy Digital, Dan Tapiero of Gold Bullion International and Willy Woo of Adaptive Capital.
Nevertheless, some investors like Raoul Pal see Bitcoin (BTC) and Gold (XAU) accompanied by the U.S. Dollar.
Alex Dovbnya
Dan Burgin