</span>ready for a bullish rally” src=”/wp-content/uploads/2020/07/10c74d602a8c88aff3993998bff1581e.jpg” alt=”Quantitative assets with ending stock are poised for a bullish rally” /></p>
A well-known hedge fund manager expects a rally in finite stocks.
Bitcoin has risen 5% in recent days, whileas the silver market added 5% and gold about 1%. Hayman Capital Management investment director Kyle Bass wrote that the aforementioned three assets, along with others in their class, are on the verge of an “explosive upward movement”.
Opinions and data
Bitcoin will soon merge with the two major precious metals, at least in the direction of price movement, according to Kyle Bass:
“Silver, gold, Bitcoin and similar [finite supply assets] are poised for an explosive move higher given the massive amount of money being printed around the world.”, - the director of Hayman Capital Management comments on the situation.
Bass is a well-known investor becausepredicted the Great Recession of 2008. He also criticized China and the U.S. central bank's quantitative easing policies that have continued over the past decade.
At the end of 2019, he said that the rise in Bitcoin prices could be driven by people in Asia, especially China, who are trying to pump funds out of closed economies. At the time, Bass told Yahoo Finance:
«If you are in Asia, in China, thenyou are in a closed currency system and will not be able to convert the value into US dollars. In this case, you will buy everything that can retain value — you will buy gold, you will buy bitcoins, you will do everything possible to get your money out of the regime that is falling».
But of course times have changed since the end of 2019. Now, an investment firm manager believes that the main driving force behind Bitcoin's price rise is central banks printing money.
It's important to note that gold has already experienced an explosive rally against BTC. One analyst shared a chart below that compares the performance of these assets.
Most Ethereum nodes are still not ready for Istanbul hard fork
The Netherlands is ready to lead the development of CBDC
Most Ethereum nodes are still not ready for Istanbul hard fork
Netherlands ready to start testing CBDC and digital Euro
Visa, Mastercard, PayPal and Stripe are not ready for official entry into the Libra Foundation
Study: 97% of traditional trading companies are ready to enter the cryptocurrency market