Bitcoin and Gold - What are the prospects for August?

To assess the bitcoin rate, it is already more logical to use not the dollar but the Euro. gold33

The gold price for the first time since 2011 broke the record at $ 1.944. Since the opening, the increase was + 3.5%. But more important is another piece of news. The silver price has already reached $ 24.5 and has added more than + 6% today.

By all indications, the announcement by the US government to continue distributing checks to the public is driving investors out of the dollar in all directions.

Gold and Bitcoin
Bitcoin also came to hand. Rumors about the imminent rise in the price of the main cryptocurrency to $ 16K are raging on the network. The rally is targeted at $ 30 or even $ 100K.

If the US continues to distribute checks to the unemployed, of whom there are already more than 45 million, according to official statistics, inflation is inevitable.

It should also be borne in mind that the distribution will continue until the US presidential elections in November 2020. That is, at least 3 more times.

Massive dollar drop
World financial markets reacted to this news with a massive dollar drain.

The price of the Euro rose at the moment to $ 1.19 per dollar.

Investments in Euros brought investors 7% within a month, since 30 days ago the price of Euro was at around $ 1.12.

The British Pound has shown a 5% rise in the month and is now trading at $ 1.29.

The Swiss franc, as the main indicator of the crisis, although it has already won back the drop in US GDP for a long time, continued its growth and gave more than 4% growth over the past 30 days. It is currently trading at $ 1.09 per dollar.

Only the lazy was not talking about the possible collapse of the dollar over the past 30 years. But what is happening right now before our very eyes may be the beginning of the dollar losing its status as a world reserve currency.

To fall by 7% per month is an unaffordable luxury for reserve currency number 1. Even the Russian ruble fell by only 3.5% over the past month.

SilverReturning to silver, it is worth mentioning the fact that there has been no cash gold on the market for half a year. And cash silver, although it has lost more than 40% of production due to the coronavirus, is much easier to buy. This is what the investors took advantage of.

Bitcoin
In the current situation, buying bitcoin is the fastest, easiest and most justified way to diversify assets. And its growth looks more convincing and outstrips all other assets.

Apparently, for the American Democrats and their partners from the Fed, Trump's re-election for a second term is so unacceptable that they are ready to drop the US dollar or even declare a default in order to plunge the country into complete chaos.

To assess the bitcoin rate, it is already more logical to use not the dollar but the Euro.

At the time of this writing, the BTC rate = 9.229 Euro. Although the price looks nicer in USD - $ 10,849.