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How a Sell-Off in Gold Could Propel Bitcoin to $200,000

After rallying to an all-time high (ATH) of $4,378 earlier this month, Gold has now reversed to $4,027, representing an 8% drop. The downtrend began after the Donald Trump administration hinted at working with the Chinese government to reach a trade agreement. In this article, we will discuss how Gold’s current bearish trend could benefit

Andrew Richard3 min read

How a Sell-Off in Gold Could Propel Bitcoin to $200,000

After rallying to an all-time high (ATH) of $4,378 earlier this month, Gold has now reversed to $4,027, representing an 8% drop. The downtrend began after the Donald Trump administration hinted at working with the Chinese government to reach a trade agreement.

In this article, we will discuss how Gold’s current bearish trend could benefit Bitcoin and possibly fuel a rally to $200,000.

Over the years, investors have considered Gold as a safe haven asset. Therefore, during uncertainty, the commodity experiences massive demand as investors move away from fiat currencies, which risk devaluation. The recent catalyst for Gold’s rally was Trump’s announcement of a 100% tariff on imports from China on October 10.

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