Saturday, November 28, 2020
Home Uncategorized Bitcoin will shoot through the roof as election uncertainty sweeps through markets,...

Bitcoin will shoot through the roof as election uncertainty sweeps through markets, analyst tells Boom Bust

There are four main forces currently driving US stock markets ahead of the elections – the spread of Covid-19, the stimulus deal, the Fed’s policy and the vote itself – says the head of a capital markets consultancy firm.

“The real thing driving the market is the upcoming election, and people start to get nervous about that,” the founder and CEO of Opimas LLC, Octavio Marenzi, told RT’s Boom Bust. He predicted that the election could turn out to be “messy,” sparking even more concerns among investors.

That will push the markets down, while the world’s most popular cryptocurrency, bitcoin, will be “shooting through the roof,” the analyst believes.

Later in the show, host Sara Montes de Oca touched upon digital currencies. While China is already testing its digital yuan, more and more central banks are currently considering the idea of launching their own digital money. Federal Reserve Chairman Jerome Powell recently said the Fed is open to collaborating with the private sector on a possible digital US dollar.

This could trigger massive changes in the current system, which some say is no longer suitable, co-host Christy Ai noted. Some speculators claim that bitcoin may take the place of gold as “a hedge against inflation” in the new financial reality and top $100,000, she added.

For more stories on economy & finance visit RT’s business section

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Camila Cabello Reaction To Boyfriend Shawn Mendes’ Netflix Documentary Shows That They Are A Dream Couple

Two young singers, Camila Cabello and Shawn Mendes, who are also both very successful in their fields, are almost over a year in their...

Hulk Hogan’s Daughter Brooke Flashes Her Toned Midriff As She Poses Up A Storm In Floral Knotted Shirt

The daughter of iconic WWE wrestler Hulk Hogan and famous singer, Brooke Hogan, has shared yet another stunning pose of herself via her Instagram...

Channing Tatum Surprises Everyone With His New Photo While Explaining Why He Did It

The other day, actor Channing Tatum, who shared a post two months ago, shared a selfie of his new style on his Instagram account,...

Eniko Hart Turns Heads In White Sweatshirt And Leggings As She Heads Out For A Stroll With Daughter Kaori

The successful comedian and actor Kevin Hart‘s wife, Eniko Hart, has shared a recent photo of herself with her newborn daughter, Kaori Mai, on...

Recent Comments