• 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
bitcoin gold stocks

Stocks Limit Up, Gold Revisits High, is Bitcoin About To Pump?

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Over the last month, as the coronavirus continues to have a devastating impact on the economy and markets, stocks, gold, Bitcoin, and other cryptocurrencies all saw record-breaking collapses.

However, today, multiple stock indexes limited up, and the safe-haven asset gold has reclaimed previous highs. Is Bitcoin the next asset to experience a massive pump?

Stock Market Futures Limit Up After Open, Gold Reclaims Previous Highs

Following record-breaking losses due to a global pandemic and resulting panic-induced selloff, assets are finally showing signs to a recovery.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Earlier today, when the stock market first opened, major US stock index futures like the S&P 500 and Dow hit their limit up maximum. The powerful surge is due to the government releasing more information about economic stimulus packages, and the spread of the virus starting to lose some pace.

US stocks limit up. Gold back to the highs. That escalated quickly.

— Alex Krüger (@krugermacro) March 24, 2020

Alongside the stock market, gold has been climbing once again, reclaiming the highs it was trading at before the historic collapse.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

While the stimulus packages are positive for saving the economy for further danger, essentially printing money causes massive inflation, which gold is the most common hedge against due to the asset’s relative scarcity.

Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin 

Bitcoin is often called digital gold due to the asset having a digital scarcity and other important attributes that are similar to the precious metal. Bitcoin was designed to be deflationary, and only 21 million BTC can ever exist.

As more and more fiat currency is flooded into the market, it lowers the asset’s value. The falling value of fiat, in turn, can cause Bitcoin prices to rise.

And with stocks limiting up, gold reclaiming previous levels, could Bitcoin soon surge to back above $10,000?

Canceled By Coronavirus: Will Bitcoin Surge Ahead of the Halving?

It’s certainly possible, and with the asset’s halving in less than two months and the supply expected to diminish, the cryptocurrency’s value could skyrocket.

Of course, there’s no telling yet the damage that a black swan event like the coronavirus will ultimately do to the economy, and with Bitcoin being a high-risk, speculative asset, its value could very well go to zero during such chaos.

Bitcoin also has already nearly doubled in value since recent lows, suggesting that the asset’s recovery pump may have already happened.

Related Reading | Crypto Analyst: Digital Gold Narrative Out The Window Amidst Crisis 

These recent surges, however, despite showing signs of recovery, may simply be bearish retests confirming previous support as resistance before the next leg down. The days ahead will be especially telling in understanding if the market is ready to fully recover, or if this is just a calm before the real storm ahead.

Featured image from Shutterstock
Tags: bitcoincryptogoldS&P500Stock Market
Tweet123Share196ShareSend
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

Gala Games 2023

Gala Games Plans for Mobile Gaming, GALA To Be The Primary Token

12 mins ago
MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

3 hours ago
Bitcoin

Bitcoin Volatility Ahead? Open Interest Registers Sharp Jump

7 hours ago
bitcoin mining difficulty adjustment

Bitcoin Mining Difficulty Touches New ATH Following 4.68% Adjustment

8 hours ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

3 days ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2022 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
  • Events
  • Play Games
  • Play Casino Games

© 2022 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.