Is It The Right Time To Buy Gold And BTC? Analysts Announced!

Investors and traders have been stepping back and watching the crypto market from the sidelines throughout this precious week. During this period, Bitcoin price dropped to $66,304. The price of gold fluctuated back and forth. Traders were expecting high volatility due to critical data and events during the week. Meanwhile, the Crypto Concern and Greed Index increased from 70 yesterday to 74 today. However, the surrender of miners affected the Bitcoin price and the recovery in the crypto market.

Gold and BTC are desired amid geopolitical concerns

Merryn Somerset Webb of Bloomberg’s Merryn Talks Money podcast spoke with Charlie Morris, chief investment officer and founder of ByteTree, and Alexander Chartres, a fund manager at Ruffer, about the current investment scenario. Analysts point to the election year and current geopolitical conditions. They state that these make both Bitcoin and gold attractive to investors. “We are in a period of incredible regime change for markets,” says Ruffer’s Alexander Chartres.

cryptokoin.com As you follow from , leading candidates in the current US presidential election, Donald Trump and current leader Joe Biden, expressed their support for Bitcoin and crypto adoption. Thus, the view on crypto has undergone a significant change. Charlie Morris, of investment research firm ByteTree, says many politicians running this year in the US, Europe and the UK are not talking about reducing debt and deficits. The US budget deficit exceeded 1.2 trillion dollars. In addition, the IMF warned that the increasing deficits of the USA fueled higher interest rates. Both Chartres and Morris say investors should diversify their investment portfolios. In this context, they state that gold or BTC should be included in the portfolio, given the current signs of excitement.

“ Gold is in the early days of a bull market breakout!”

Meanwhile, Blomberg senior commodity strategist Mike McGlone also explained his views on gold and Bitcoin. Gold is at the beginning of a bull market, strategist says. In this context, McGlone shares the following assessment:

Gold may be in the early days of a bull market breakout and ETFs may lead the way. Whether the metal will catch up to the price of ETF holdings is a valuable question for 2Y, and my bias is that a transition to inflows could be imminent, especially if there is some back and fill in the stock market. It’s no surprise to me that inflation has remained steady with the sharp rise in stock prices, and that may be why gold is up nearly 13% from 2024 through June 12, outperforming the AI-driven S&P 500.

Fed’s smaller interest rate cut puts pressure on Bitcoin and gold

The US Federal Reserve differed from similar central banks in terms of interest rate cuts this year. This caused investors to lose Bitcoin price momentum once again. In addition, this hawkish stance put pressure on gold prices. The Fed is predicting a single interest rate cut this year, compared to the three it predicted in March. However, Wall Street banks are expecting an interest rate cut in September that could turn the markets around. QCP Capital made the following assessment for Bitcoin:

BTC is having difficulty recovering after the FOMC despite the strong momentum in stocks. Why this separation? We think that the reason for this is that BTC miners directly limit the price by going through post-halving capitulation.