• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
gold bitcoin inflation
Nexo Logo

Gold Bug Peter Hug Warns Inflation Will Be Slow, Will This Delay Bitcoin’s Bull Run?

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

The global trading director of a major precious metals firm is warning gold investors to not pay the currently enormous premiums until inflation sets in much later down the line. However, Bitcoin is booming for similar reasons as gold. Does this mean that Bitcoin‘s next bull run may be delayed until inflation truly takes hold?

Kitco’s Peter Hug: Inflation Won’t Arrive in Short-Term, Gold Demand Isn’t There Yet

To combat the devastation the pandemic has done to the economy, the Fed has been printing money at an unprecedented rate. Stimulus packages already reach in the trillions, and the Fed has pledged to do whatever is necessary to sustain what little positive momentum is left.

During periods of economic downturn, gold serves as among investor’s first choice to park capital. The precious metal has earned safe-haven status as a result.

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

Related Reading | Stimulus Checked: Here’s The ROI on a $1,200 Investment in Top Crypto Assets

Trade tensions between the US and China and fears of recession coming caused gold to pick up steam in early 2019, just as Bitcoin went on another parabolic rally.

Gold is now trading at above $1,700 an ounce and analysts are pointing to prices of $3,000 an ounce due to the coming inflation.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

However, Kitco’s global trading director Peter Hug isn’t convinced that inflation will be here so soon.

Hug, who helms the trading division at the precious metals firm, is bullish on gold in the medium to long term when he says inflation will actually rear its ugly head. However, in the short-term, Hug says the demand for gold just isn’t there yet.

“People are basically deferring their rent payments right now and they’re trying to hoard cash. They’re not going to be chasing goods, except for necessities, so I don’t see the equation of supply and demand creating massive inflation in the short term,” he explained.

Gold, however, continues to trade at a premium Hug warns investors is simply “ridiculous.”

Delayed Inflation Could Postpone Bitcoin’s Next Bull Market

Hug points to the fact that the currency crisis is due to a health care issue, not a broken economy by normal standards. Due to this, inflation will take some time, Hug says.

Hyperinflation and an incredibly scare supply are what was said to make gold climb. The same factors could drive Bitcoin prices to new all-time highs.

Related Reading | Bitcoin Expert: Mentally Prepare, $10,000 May Take Another 100 Days To Break 

But if inflation isn’t coming for some time, and there isn’t yet demand for safe-haven assets, could Bitcoin’s bull market be further delayed?

Bitcoin’s halving has now come and went, and the asset failed once again to break $10,000. According to experts, it may even take another 100 days to reclaim the lost level.

The lack of inflation coming sooner than expected could be partly responsible for Bitcoin‘s failure to thrive following the halving.

 

Tags: bitcoinbtcbtcusdBTCUSDTcryptogoldxauusdxbtusd
Tweet123Share203ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

crypto bitcoin btc btcusd Ethereum

Why Crypto Is “Likely To Dump” As It Lags The S&P 500, Expert Says

42 mins ago
bitcoin

Outflows Rock Bitcoin As Institutional Investors Pull The Plug, More Downside Coming?

1 hour ago
Fetch.ai Announces DabbaFlow, A File Sharing and Data Management Platform

Fetch.ai Announces DabbaFlow, A File Sharing and Data Management Platform

2 hours ago
What Is Play-and-Earn by BeaRex and Why It Is Revolutionary for GameFi

What Is Play-and-Earn by BeaRex and Why It Is Revolutionary for GameFi

11 hours ago
More security, transparency, and scalability: What blockchain needs for mass adoption

More security, transparency, and scalability: What blockchain needs for mass adoption

12 hours ago
CoinEx Institution|From NFT to NFT-fi: Real Demands or False Propositions?

CoinEx Institution|From NFT to NFT-fi: Real Demands or False Propositions?

12 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

When Marketplaces Meet Predictions: The Curious Case Of Fair Prediction Launches

June 28, 2022

Globiance Goes Live on CoinMarketCap And 6 Exchanges (CEX)

June 28, 2022

Why is Klein Finance so important to KCC (KuCoin Community Chain)?

June 28, 2022

LBank Exchange Will List SENSO on June 28, 2022

June 28, 2022

LBank Exchange Will List LOOT on June 29, 2022

June 28, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.