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Bitcoin Continues to Climb While Other Investments Fall

Cryptocurrencies may not have the status of gold, but they have definite value. People are watching their rise, hoping to make a killing. Currencies, like equities and commodities, are a staple of the world’s financial system and Bitcoin has certainly found a place in the pantheon of the top performers.

Bitcoin will fare well if gold and stocks fall. Note the big equity sell-off this week in Asia, which will no doubt perk up the interest in Bitcoin. In fact, it has already started and the bitcoin price has risen by about 11.8% to reach US$23,712 per coin.

Just listen to the words of Guggenheim Investments Chief Investment Officer Scott Minerd. His firm believes the value of Bitcoin could eventually hit $400,000 thanks to “rampant money printing.”

Yes, money is being printed at a record speed. Note that the U.S. Federal Reserve made it clear that the days of easy money are here to stay – at least for quite some time. Minerd would certainly say this bodes well for his company’s prediction.

Source: https://www.bnnbloomberg.ca/the-daily-chase-bitcoin-s-climb-continues-apollo-s-great-canadian-bid-on-thin-ice-1.1537868

About the author

Dani Scott

Dani Scott

Dani Scott is a former freelance writer for different editorials and at the present moment he serves as an independent Reporter for Blog.ca.

Dani's hobby is social media tweeting and understanding of the universe.

He can be reached out at: dani.scott@blog.ca

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