25.10.2021

China’s policy will drive capital inflows into gold and cryptocurrencies

In January, prominent Russian economist Mikhail Delyagin said bitcoin’s decentralized nature infuriated American bankers. According to him, the pumping of cryptocurrency will continue in the coming months.

The expert turned out to be right, and BTC reached a historical maximum in the spring. Then the coin fell in price, after which a new stage of its expansion began. Now Bitcoin is trading at $ 43,000. According to analysts, BTC should hold above $ 40,000, at this level a strong support zone for the cryptocurrency is expected.

Delyagin believes that gold and digital currencies will become more attractive instruments after China accelerates its plan to take over Taiwan.

Beijing’s aggressive foreign policy will bring down Asian markets and increase demand for alternative instruments. First of all, the dollar will win. Bitcoin and precious metals will also receive a significant share of the capital that will come out of risky assets.

More and more investors are looking at cryptocurrencies as a safe haven asset . Confidence in them is growing, but such innovative tools are unlikely to be able to undermine the dominant position of gold, the portal “Economics Today” quotes Delyagin.

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