{"id":553900,"date":"2023-10-03T13:00:15","date_gmt":"2023-10-03T13:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=553900"},"modified":"2023-10-03T10:57:53","modified_gmt":"2023-10-03T10:57:53","slug":"bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says\/","title":{"rendered":"Bitcoin And Gold Poised For Growth Amidst US Fiscal Troubles, Top Macro Investor Says"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin (BTC) and gold, two seemingly divergent assets, find common ground in the eyes of veteran macro investor Luke Gromen. In a recent interview, Gromen posits that these assets could flourish as the fiscal challenges in the United States continue to mount.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gromen&#8217;s argument hinges on the idea that <\/span><a href=\"https:\/\/dailyhodl.com\/2023\/10\/02\/bitcoin-and-gold-can-flourish-as-us-struggles-with-massive-fiscal-problems-macro-investor-luke-gromen\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">both gold and Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> are &#8220;duration assets&#8221; with fixed supplies and the potential for their face values to rise. In times of fiscal distress, these assets tend to shine.<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/crypto-era-looms-bis-innovations-chief-calls-on-central-banks-to-prepare\/\" target=\"_blank\" rel=\"noopener \">Crypto Era Looms: BIS Innovations Chief Calls On Central Banks To Prepare<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">As the US grapples with fiscal issues exacerbated by relentless quantitative easing and potential shifts in Federal Reserve policies, Gromen believes that this environment will create a fertile ground for gold, oil, and Bitcoin.<\/span><\/p>\n<blockquote>\n<h4><span style=\"font-weight: 400\">&#8220;[Gold and BTC will do well] because they are simply duration assets with a more fixed supply and a face value that can rise,\u201d <\/span><span style=\"font-weight: 400\">he stated<\/span><span style=\"font-weight: 400\">. <\/span><\/h4>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">\u201cThey do well when a nation has a fiscal problem, and when the reserve currency issue of the world and her allies all have fiscal problems, and hers is at least as bad or probably worse than the others \u2013 even Europe \u2013 then it&#8217;s really good for gold and Bitcoin.&#8221;<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<h2><strong>BRICS And The Dollar&#8217;s Reshaping<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Gromen also delved into the potential ramifications of the BRICS nations (Brazil, Russia, India, China, and South Africa) launching a gold-backed currency. Such a move could undermine the US dollar&#8217;s longstanding position as the world&#8217;s reserve currency. The prospect of a gold-backed currency gaining traction among these major economies could weaken the dollar&#8217;s dominance in international trade and finance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the cryptocurrency sector is experiencing a bullish surge, with Bitcoin leading the charge. It has surpassed the critical psychological threshold of $28,000, sparking optimism among investors. Notably, Cryptoinsightuk, a pseudonymous crypto trading analyst, has conducted a revealing analysis of Bitcoin&#8217;s relative strength index (RSI) indicator.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/2QNmoT9B\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">Bitcoin moving halfway to the $28K region. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Bitcoin&#8217;s Bullish Momentum<\/strong><\/h2>\n<p><a href=\"https:\/\/finbold.com\/is-bitcoin-about-to-skyrocket-1100-expert-analysis\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Cryptoinsightuk&#8217;s analysis<\/span><\/a><span style=\"font-weight: 400\"> tracks the instances when Bitcoin&#8217;s weekly RSI crossed above the 50 mark (green) and then dropped below this level (red). The expert found that, on average, these events led to a remarkable 1,100% price increase for Bitcoin. Such a surge could become a reality in the right circumstances, including a supply squeeze and the introduction of a spot Bitcoin exchange-traded fund (ETF).<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/how-solana-outperformed-2-top-altcoins-and-its-ripple-effect-on-prices\/\" target=\"_blank\" rel=\"noopener \">Solana Outperforms 2 Top Altcoins \u2013 Its Ripple Effect On Prices<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">As <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin&#8217;s price<\/span><\/a><span style=\"font-weight: 400\"> currently hovers around $27,539 with a 1.2% decline over the past 24 hours but a 4.9% gain over the last seven days, investors are closely monitoring these developments, eagerly awaiting signs of whether Bitcoin&#8217;s bullish momentum will persist in the coming weeks and months.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from iStock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) and gold, two seemingly divergent assets, find common ground in the eyes of veteran macro investor Luke Gromen. In a recent interview, Gromen posits that these assets could flourish as the fiscal challenges in the United States continue to mount. Gromen&#8217;s argument hinges on the idea that both gold and Bitcoin are &#8220;duration assets&#8221; with fixed supplies and the potential for their face values to rise. In times of fiscal distress, these assets tend to shine. Related Reading: Crypto Era Looms: BIS Innovations Chief Calls On Central Banks To Prepare As the US grapples with fiscal issues exacerbated by relentless quantitative easing and potential shifts in Federal Reserve policies, Gromen believes that this environment will create a fertile ground for gold, oil, and Bitcoin. &#8220;[Gold and BTC will do well] because they are simply duration assets with a more fixed supply and a face value that can rise,\u201d he stated. \u201cThey do well when a nation has a fiscal problem, and when the reserve currency issue of the world and her allies all have fiscal problems, and hers is at least as bad or probably worse than the others \u2013 even Europe \u2013 then it&#8217;s really good for gold and Bitcoin.&#8221; BRICS And The Dollar&#8217;s Reshaping Gromen also delved into the potential ramifications of the BRICS nations (Brazil, Russia, India, China, and South Africa) launching a gold-backed currency. Such a move could undermine the US dollar&#8217;s longstanding position as the world&#8217;s reserve currency. The prospect of a gold-backed currency gaining traction among these major economies could weaken the dollar&#8217;s dominance in international trade and finance. Meanwhile, the cryptocurrency sector is experiencing a bullish surge, with Bitcoin leading the charge. It has surpassed the critical psychological threshold of $28,000, sparking optimism among investors. Notably, Cryptoinsightuk, a pseudonymous crypto trading analyst, has conducted a revealing analysis of Bitcoin&#8217;s relative strength index (RSI) indicator. Bitcoin moving halfway to the $28K region. Chart: TradingView.com Bitcoin&#8217;s Bullish Momentum Cryptoinsightuk&#8217;s analysis tracks the instances when Bitcoin&#8217;s weekly RSI crossed above the 50 mark (green) and then dropped below this level (red). The expert found that, on average, these events led to a remarkable 1,100% price increase for Bitcoin. Such a surge could become a reality in the right circumstances, including a supply squeeze and the introduction of a spot Bitcoin exchange-traded fund (ETF). Related Reading: Solana Outperforms 2 Top Altcoins \u2013 Its Ripple Effect On Prices As Bitcoin&#8217;s price currently hovers around $27,539 with a 1.2% decline over the past 24 hours but a 4.9% gain over the last seven days, investors are closely monitoring these developments, eagerly awaiting signs of whether Bitcoin&#8217;s bullish momentum will persist in the coming weeks and months. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":553905,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,8686,2209,89551],"class_list":["post-553900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-ethusd","tag-gold","tag-luke-gromen"],"acf":[],"yoast_head":"\n<title>Bitcoin, Gold Poised For Growth Amidst US Fiscal Troubles: Analyst<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) and gold, two seemingly divergent assets, find common ground in the eyes of veteran macro investor Luke Gromen. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin And Gold Poised For Growth Amidst US Fiscal Troubles, Top Macro Investor Says","url":"http:\/\/wncen.com\/news\/bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-10.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-10.png?fit=1100%2C728"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","ethusd","gold","luke gromen"],"dateCreated":"2023-10-03T13:00:15Z","datePublished":"2023-10-03T13:00:15Z","dateModified":"2023-10-03T13:00:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin And Gold Poised For Growth Amidst US Fiscal Troubles, Top Macro Investor Says\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-and-gold-poised-for-growth-amidst-us-fiscal-troubles-top-macro-investor-says\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-10.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-10.png?fit=1100%2C728\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"ethusd\",\"gold\",\"luke gromen\"],\"dateCreated\":\"2023-10-03T13:00:15Z\",\"datePublished\":\"2023-10-03T13:00:15Z\",\"dateModified\":\"2023-10-03T13:00:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-10.png?fit=1100%2C728","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553900"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553900"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/553905"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}