A new paradigm shift in support of cryptocurrencies means the world is going digital, says Gerald Celente, publisher of the Trends Journal. In an interview with Kitco News, Celente said that digital currencies like bitcoin will continue to gain popularity because people have lost faith in fiat currencies.
“It’s a populist generation’s gold,” Celente said, referring to cryptocurrencies, “when the next financial crisis comes, you’re going to see people going into safe-haven assets; they’re going to go into gold and they’re going to go into bitcoin.”
Speaking on gold, Celente said that momentum behind the yellow metal is dependent on the dollar’s strength. “We see gold becoming bullish when it breaks over $1,400 [an ounce] and the mid-$1,400’s, which it hasn’t done in years, so it’s still in that trading range,” he said, “we don’t see a big downside risk in gold.”
- Source, Kitco News
