{"id":124651,"date":"2020-12-02T18:43:50","date_gmt":"2020-12-02T15:43:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar\/"},"modified":"2020-12-02T18:43:50","modified_gmt":"2020-12-02T15:43:50","slug":"bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar\/","title":{"rendered":"# Bitcoin, gold to benefit as Peter Schiff predicts \u2018worst year ever\u2019 for US dollar"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bbf4645de3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bbf4645de3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar\/#Analyst_Long-term_trend_%E2%80%9Cclearly_dollar_weakness%E2%80%9D\" >Analyst: Long-term trend \u201cclearly dollar weakness\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar\/#Grayscale_gives_accidental_buy_signal_for_gold\" >Grayscale gives accidental buy signal for gold<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin, gold to benefit as Peter Schiff predicts \u2018worst year ever\u2019 for US dollar <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) may get fresh support for a record-breaking year in 2021 thanks to the demise of a familiar foe: the U.S. dollar.<\/p>\n<p>As various sources noted this week, the dollar is trading at almost three-year lows against various currencies and five-year lows against the Swiss franc. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Long-term_trend_%E2%80%9Cclearly_dollar_weakness%E2%80%9D\"><\/span>Analyst: Long-term trend \u201cclearly dollar weakness\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Weakness in the dollar tends to translate into strength for Bitcoin, and 2020 has been the year in which the U.S. dollar currency index (DXY) has become a reliable yardstick for price direction.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/8c979da4-3f8b-45d4-ade0-751a619438c3.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD (black) vs. Gold (blue) vs. DXY (orange) 1-day chart. Source: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/OXgQmEOE\/\">TradingView<\/a><\/em><\/figcaption><\/figure>\n<p>An inverse correlation has been palpable throughout 2020, and while Bitcoin\u2019s relationship with DXY has broken down more recently, analysts remained convinced that the fresh lows were only good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for the cryptocurrency.<\/p>\n<p>A combination of renewed hopes of global economic recovery and a new coronavirus stimulus package are the latest threats undermining the dollar. DXY hit 91.1 on Tuesday, its lowest since April 2018.<\/p>\n<p>\u201cWhen you get a report that a bipartisan stimulus deal can get done after hopes have been dashed, it\u2019s just another reason to bid risk up and sell the dollar,\u201d John Doyle, vice president of dealing and trading at Tempus, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/global-forex-int-idUSKBN28B3D9\">told<\/a> Reuters. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/234841dd-c078-46f8-980d-6e8b08273eca.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>U.S. dollar currency index (DXY) weekly chart. Source: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/TVC-DXY\/\">TradingView<\/a><\/em><\/figcaption><\/figure>\n<p>Even Bitcoin skeptic Peter Schiff \u2014\u00a0as ever, fully enamored with gold \u2014 agreed with hodlers on the dollar\u2019s fate.<\/p>\n<p>\u201cThe U.S. dollar is now trading at its lowest level against the Swiss franc since Jan. of 2015,\u201d he noted on Wednesday. <\/p>\n<blockquote><p>\u201cThis is a harbinger of things to come. The franc is leading the way, but other currencies will soon follow. 2021 may be the worst year ever for the U.S. dollar, at least until 2022.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Grayscale_gives_accidental_buy_signal_for_gold\"><\/span>Grayscale gives accidental buy signal for gold <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the topic of gold, meanwhile, Schiff\u2019s loyalty may soon be rewarded as the precious metal bounces back from its current lackluster performance. <\/p>\n<p>Barry Silbert, the founder of cryptocurrency asset management giant Grayscale, confirmed that the firm had brought back its \u201cBitcoin-not-gold\u201d advertisements this month, a move that signals the market believes that gold has bottomed, one analyst said.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>\u201cHuge BUY signal for gold traders,\u201d macro investor Dan Tapiero <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1333790048525828097\">responded<\/a> to the news.<\/p>\n<blockquote><p>\u201cYes, Barry is a brilliant businessman, visionary bitcoiner and great guy, but not a mkts trader and not a portfolio manager. Last time he brought this ad out was May&#8217;19, days before a 30% gold rally kicked off. Likely selling the low again.\u201d<\/p><\/blockquote>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin, gold to benefit as Peter Schiff predicts \u2018worst year ever\u2019 for US dollar &#8221; Bitcoin (BTC) may get fresh support for a record-breaking year in 2021 thanks to the demise of a familiar foe: the U.S. dollar. As various sources noted this week, the dollar is trading at almost three-year lows against various&#8230;<\/p>\n","protected":false},"author":1,"featured_media":124652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/2bc859e7-2ca5-44c7-96b5-019b56a38ea4.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-124651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=124651"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/124652"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=124651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=124651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=124651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}