According to Frank Holmes, CEO of BD Global Advisors, Bitcoin and gold are set to enjoy a healthy 2021, driven by rising prices and the bull market.
Frank Holmes: gold and cryptocurrency prices may hit new heights in 2021
If 2020 taught us one thing, it is the fact that a change in the economy can have interesting consequences in the financial sector. This year, fiat currencies fought, while safe-haven assets brought profit. Bitcoin and gold, in particular, have seen healthy growth to find new levels of support throughout the year and may end the year on a strong note.
Frank Holmes believes that the price of both gold and cryptocurrencies could rise to new heights if they follow a steady course in the new year. In a recent interview, Frank Holmes, CEO of US Global Advisors, said steady growth will result in a “tremendous” year for safe haven assets, and Bitcoin and Ethereum in particular will perform exceptionally well with gold. Frank Holmes also emphasizes that he expects the current growth trend in cryptocurrencies to continue. Frank Holmes adds the following to his comments on the subject:
THE NUMBER OF WALLETS PURCHASING, PEOPLE EMBRACING BITCOIN, HAS INCREASED FOR THE LAST THREE YEARS. WE SEE A BEAUTIFUL AND STEADY GROWTH.
Frank Holmes: I can guarantee you that the gold price will be $ 10,000.
Frank Holmes suggests that the price increase for Bitcoin occurred after May, when the Bitcoin mining rewards were cut in half. According to the famous CEO, BTC rallied tremendously with the halving activity in Bitcoin, the increase in demand and the slowdown in supply. Frank Holmes adds the following to his comments on the subject:
TOMORROW ALL GOLD MINES IN THE WORLD WILL REDUCE GOLD SUPPLY BY 50%, I GUARANTE YOU THAT THE PRICE OF GOLD WILL BE US $ 10,000.
JPMorgan: “Gold Will Suffer Years From Bitcoin”
Frank Holmes stated that although the industry is speculative and volatile in nature, the “supply-demand function” will increase the price of Bitcoin with individual and institutional investors new to the market. According to Frank Holmes, if current interest in cryptocurrencies continues, 2021 will be a strong year for both commodities and cryptocurrencies. According to the famous CEO, this will result in an impressive price increase and a bull rally.