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    Mark Mobius Says Buy ‘Psycho Currencies': When Bitcoin Rises, Buy Gold Too as Banks Reduce Rates

    One of the veteran markets investors in the space – Mark Mobius – has officially alluded to the potential that cryptocurrencies will, in fact, help to boost the price of gold in the foreseeable future.

    This is according to an interview with Mobius on the Canadian financial news outlet – BNN Bloomberg this week. During the conversation, the investor suggested that cryptocurrencies have all the potential of supporting the rise of gold – he further explained:

    “You have all these currencies, new currencies coming into play. […] I call them ‘psycho currencies,’ because it’s a matter of faith whether you believe in Bitcoin or any of the other cyber-currencies. I think with the rise of that, there’s going to be a demand for real, hard assets, and that includes gold.”

    Gold has one Direction in its Future – ‘Up, up and up'

    Mobius went on to further explain his own deep conviction that the recent shifts in monetary policy will also support the rise of gold. As he goes on to explain:

    “Gold’s long-term prospect is up, up and up, and the reason why I say that is money supply is up, up and up. […] I think you have to be buying at any level, frankly.”

    At its current position in the market, Gold is at what experts report as being a six year high, with all the potential of going even further given the decision by the US Federal Reserve, among other central banks to continue easing monetary policy is coming into extensive force.

    The overall aim of these movements are generally aimed at targetting and supporting growth, which has been significantly impacted by the ongoing reciprocal trade war between the United States and China.

    In addition, the United States Treasury market has been signalling that a recession is very much on the horizon, and as a result: investors are starting to pull out of shares and into gold as a hedge against the upcoming downturn.

    Mobius himself has made recommendations that investors should be allocating at least 10% of an investor’s portfolio into some kind of bullion. In addition to these negative signs, there appear to be signs that central banks will continue to increase the money supply while lowering interest rates across the board.

    One of the forecasting sights dedicated to the precious metal is Goldprice, which currently has Gold trading upwards at approximately $1,503, which is an increase of more than 15.5% compared to the start of the current year. In contrast, Bitcoin has seen a spectacular rise of more than 300 percent over the course of 2019 so far.

    In a recent report during the end of July, Anthony Pompliano, the Co-founder of Morgan Creek Digital Assets, argued that the European Central Bank's decision to make a more dovish turn will actually be one of the components necessary to spike Bitcoin further upwards.

    Bitcoin’s price is $8,955.03 BTC/USD exchange rate today. The real-time BTC market cap of $162.7 Billion currently ranks #1 with a chart dominance at 64.85%, daily trading volume of $6.73 Billion and live coin value change of BTC 0.23 in the last 24 hours.


    Live Bitcoin (BTC) Price:

    1 BTC/USD =$8,955.0327 change ~ 0.23%

    Coin Market Cap

    $162.7 Billion

    24 Hour Volume

    $6.73 Billion

    24 Hour VWAP

    $8.9 K

    24 Hour Change

    $20.8804

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    James Fox
    James Fox
    Cutting his teeth in the world of startups and Fintech, James went on to gain a profound interest in Cryptocurrencies and blockchain, investing in Bitcoin, Ethereum and LiteCoin, but never letting it weigh on being objective. Now working full time as an editor for a blockchain gaming site, James still lends his writing abilities and contacts out on a freelance basis, thanks to his marketing experience with other projects.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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