According to analysts at JP Morgan, the current war uncertainty around the globe and the US presidential elections can drive investors toward “debasement trade.” This means investors will consider gold and bitcoin more as safe assets.
“Rising geopolitical tensions and the coming U.S. election are likely to reinforce what some investors call the ‘debasement trade’ thus favoring both gold and bitcoin” Analysts at JP Morgan
While Bitcoin is facing selling pressure amid the rising tensions in Iran and Israel, gold prices have increased up to $2700 USD as of September 26th.
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