- CNBC trader Ran Neuner has tweeted that Gold has been experiencing a rally and at its all-time highs.
- The last time when gold prices had experienced such highs were back in 2011 when its price hit $1921.
- Bitcoin’s price since last month has been stagnant in the $9000 to $9250 mark.
Recently, CNBC trader Ran Neuner tweeted that Gold has been experiencing a rally and at its all-time high. According to him, it’s just a matter of time before Bitcoin experiences a similar rally. He has further added that once this happens there is very little possibility for us to see these high levels again because of the Fed printing policy.
Gold is rallying and at all time highs. It’s a matter of time before Bitcoin follows. Once this happens I don’t think we will see these levels again given the current FED printing policy.
— Ran NeuNer (@cryptomanran) July 22, 2020
Onchain CEO Suggests BTC Will Soon Follow Gold Price Rally
Ran Neuner is the host of the African CNBC show Crypto Trader. Neuner is also the founder as well as the CEO of Onchain Capital. Prior to this, he was the CEO of the largest advertising agency in Africa, The Creative Counsel. At the time of composing the article, the price of one gold share representing a gram of metal was $1,854.9. On the other hand, Bitcoin traded at $9,329.68 down by 0.65 in the last 24 hours. The 24 hour high is $9,445.58 whereas the 24 hour low is $9,304.75.
Gold Prices Previously Peaked in 2011
The bullish circumstances that are building in the gold market could probably push its price to higher levels in the coming days. The last time when gold prices had experienced such highs were back in 2011 when its price hit $1921. The main factors that are contributing to gold price bullishness are the weak federal policies and asset allocations by both institutional as well as retail clients.
Furthermore, the economic crisis due to the coronavirus pandemic has also contributed to the spikes in the price of the metals. In the next nine months, it has been estimated that the gold price will increase by 30%. This means that gold prices will see fresh highs and may even cross the $2000 mark.
BTC Breaks Off The $9300 Mark, A Great Start To The Week
On the other hand, Bitcoin has been trading in the $9300 mark since the start of the week. In addition, the low volatility rates among the investors may hint that traders are bullish about Bitcoin in the future.
Neuner in his tweet said the same thing, the Bitcoin’s rally is expected soon. As we know, Bitcoin’s price since last month has been stagnant in the $9000 to $9250 mark. BTC’s breaking out $9300 mark is making analysts think that a volatility spike is expected soon. However referring to Federal’s money printing policy, Neuner has also warned that in the future we may not see such high levels.