The dollar, which started to rise, had a negative impact on the Bitcoin and gold front. While the leading coin has lost about 10% in the last week, gold has also shown a serious retreat. At this point, the question came to mind whether Bitcoin and gold prices will rise.
It added value to the value of Bitcoin and gold with the fall of the dollar with the government policies followed during the pandemic process. Now the same negative correlation continues; As of September, the dollar is recovering, BTC and gold are falling. The main reasons for the appreciation of the dollar in this way are the upcoming US presidential election and the slowdown in money injection policies. But whatever the case, both assets are on the rise, and this trend will continue in the long run, according to Bitcoin and gold experts.
Bloomberg’s expert analyst Mike McGlone argues that both gold and Bitcoin have survived the correction and will continue to rise. McGlone thinks that the decline in share prices will encourage governments to pump more liquidity into the economy, arguing that gold and Bitcoin prices are inevitable in this scenario.
10 Thousand Dollars Dam Is Very Important For Bitcoin
Mike McGlone, in his analysis published on Twitter, underlined that the value of $ 10 thousand for Bitcoin is a critical point. Emphasizing that Bitcoin has captured this value many times as a resistance zone last year, the analyst emphasized that it is very important for a possible future bull run to keep BTC above $ 10 thousand in this process.
McGlone argued that Bitcoin performed well in this framework and could easily recover in the long run. Most analysts argue that the macro framework for BTC, which has fallen below $ 10k for a short time, is in a good position.