As global uncertainty reaches historic highs and tensions in the Middle East rise, leading figures in the financial world discussed major disruptions in the Bitcoin, gold and oil markets.
Strategists gathered on The Wolf Of All Streets channel to consider the new economic era that awaits investors.
Former CoinRoutes CEO Dave Weisberger highlighted the extreme uncertainty in the market and argued that one thing is certain about the coming times: governments will continue to print large amounts of money to maintain debt. “Governments will print money, which will increase the nominal value of assets denominated in dollars, yen, and euros,” Weisberger said.
Weisberger reminded us that Bitcoin was designed for just such a manipulated and debt-laden economy, and claimed that he believes Bitcoin is forming a foundation around the $60,000 level.
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Analyst James Rabish said the U.S. Treasury faces a huge debt burden of about $9.7 trillion due this year, a figure that rises to $12 trillion when the budget deficit is included. “We can’t stop this train,” he warned, adding that every half-point increase in interest rates would add $100 billion to debt interest payments.
Unlike other guests, Mike McGlone, senior commodities strategist at Bloomberg, offered a more cautious outlook, arguing that the big bull run in Bitcoin and precious metals may be over. He said a sudden rise in oil prices could cause a “demand collapse” and lead to a global recession, arguing that the performance of cryptocurrencies and gold over the past year had actually foreshadowed this impending risk. McGlone also predicted that the stock market index (S&P 500) is overvalued and that a collapse would lead to a downward trend in all asset classes.
*This is not investment advice.
