JPMorgan Chase says the incoming Trump administration could boost both Bitcoin (BTC) and gold.
In a note to clients, the US bank says that if Republicans gain control of the House in addition to the Senate, a weaker dollar is likely as stimulus is poured into the system, reports Barron’s.
This, combined with potential further rate cuts from the Federal Reserve, could push USD lower while benefiting BTC and precious metals.
In a forecast published just before the election, JPMorgan strategists say investors should pay attention to gold and Bitcoin ETFs after a Trump victory.
“…Retail investors appear to be embracing the ‘debasement trade’ in an even stronger manner by buying bitcoin and gold ETFs…
There could be additional upside for bitcoin and gold prices in a Trump win scenario.”
The price of Bitcoin has surged since Trump beat Harris.
The top crypto is at $76,395 at time of publishing, up 2.3% in the last 24 hours.
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