• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Why This Fund Manager Is Getting Bullish On Bitcoin & Gold

Nick Chong by Nick Chong
1 year ago
in Technical analysis
Reading Time: 2min read
Why Bitcoin Outperformed Gold by a Staggering 50% in 2019
Advertisement

A prominent cryptocurrency fund manager and former Wall Street household name is bullish on both Bitcoin and gold. The reason: the U.S. killed Iranian General Qassem Soleimani by an airstrike.

Related Reading: Bitcoin Poised to Collapse Under $5,000? Market Cycle Fractal Suggests So

Bitcoin Bullish Because of Iran?

On Jan. 2, U.S. officials confirmed that Iranian General Qassem Soleimani was killed in Baghdad in an airstrike directed by President Donald Trump. Due to Soleimani’s status as a key leader in Iran, media—mainstream and social media alike — erupted; every commentator was trying to weigh in on what this event meant for foreign policy, a potential World War 3, oil, and — you guessed it—Bitcoin.

Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000

Interestingly, a majority think that this geopolitical event will be either neutral or bullish for Bitcoin. Michael Novogratz, a former partner of Goldman Sachs and the current chief executive of crypto firm Galaxy Digital, recently remarked on Twitter that the “more I analyze this Iranian situation, the more bullish [on] gold and BTC I become.”

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The more I analyze this Iranian situation, the more bullish gold and $btc I become.

— Michael Novogratz (@novogratz) January 5, 2020

He went on to explain his reasoning, writing that due to the general’s death, “Iraq [will] expel US troops. Iran will have to pull in Iraq. Saudis don’t want conflict. Middle East will become less stable, creating volatility in markets.”

This ties in with the theories of many cryptocurrency investors that Bitcoin is being increasingly seen as a macro play. Former Wall Street executive Raoul Pal, for instance, has lumped the orange coin in with gold, silver, and other macro plays on many occasions.

The idea here, of course, being that BTC should rise in times of geopolitical and macroeconomic instability due to it being an asset that is decentralized, non-sovereign, and scarce.

$20,000 By Early-2021

While Novogratz didn’t give any concrete price predictions this time around, he has previously said in an interview that the expects BTC to hit $20,000 by early-2021 at the latest.

As to why Bitcoin is likely to hit its all-time highs once again, the investor cited institutional involvement. The Galaxy Digital CEO’s long-held thesis is that institutions, coupled with solution providers like Bakkt, will bring a mass influx of capital into Bitcoin markets that were not seen before.

Also, as evidenced in the above tweet, the former Wall Streeter has looked to macro trends that may favor Bitcoin: negative interest rates, geopolitical unrest, and mistrust in centralized systems.

Featured Image from Shutterstock
Tags: bitcoingoldiran
TweetShare35
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Uniswap’s UNI

Charted: Uniswap’s UNI Enters Top 10, Why It Could Soon Test $42

7 hours ago
Ethereum

TA: Ethereum Rallies Above $1,700, Why ETH Could Soon Test $1,800

9 hours ago
Bitcoin

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

11 hours ago
Ethereum

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

1 day ago
Bitcoin Price

Why Bitcoin Price Could Start Strong Increase Above $50K

1 day ago
bitcoin dominance btc.d altcoins liftoff

Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 2021

Connect Financial to List CNFI Tokens with BitMax

March 8, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.