Bitcoin may sustain $10K as gold nears ‘inflection point’ vs. stocks

Bitcoin may sustain $10K as gold nears ‘inflection point’ vs. stocks

Gate Trade News Saturday, September 5, 2020 64 1

Gold and Bitcoin as safe havens may be about to outperform stocks, a Bloomberg strategist says.

 

Huge gains in stock markets despite the dire economic consequences of coronavirus may soon be a thing of the past, one analyst warns.

 

In a tweet on Sep. 4, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that gold may soon get the limelight as markets reach an “inflection point.”

 

“In a battle of the bulls, we see greater potential endurance favoring #gold over the #Nasdaq,” he wrote.