Bitcoin, Gold Will Surge If Donald Trump Wins: JPMorgan
Posted On October 31, 2024
JPMorgan analysts predict a rise in Bitcoin (CRYPTO: BTC) and gold prices should Ex-President Donald Trump secure a victory as the apex crypto sees a surge of interest from institutional investors.
What Happened: Analysts at JPMorgan, led by managing director Nikolaos Panigirtzoglou, suggest that a Trump win could intensify the “debasement trade” trend, where retail investors purchase Bitcoin and gold ETFs as a safeguard against currency devaluation, The Block reported on Thursday.
In recent days, net inflows into spot Bitcoin ETFs have reached $1.3 billion, contributing to a total of $4.4 billion for October. This marks the third-largest monthly inflow since Bitcoin ETFs were launched in January, driven …
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