If Financial Difficulties in the US Continue to Grow, Bitcoin and Gold May Come to the Fore!

Although Bitcoin (BTC) and gold are considered seemingly different assets, they share a common foundation in the eyes of macro investor Luke Gromen. These assets could grow if financial difficulties continue to mount in the United States, Gromen suggests in a recent interview.
Gromen's argument is based on the idea that both gold and Bitcoin are "duration assets" with a fixed supply and the potential for their nominal values to rise. In times of financial distress, these assets tend to shine.
With the United States dealing with fiscal problems worsened by continued quantitative easing and potential changes in Federal Reserve policies, Gromen thinks this environment will provide fertile ground for gold, oil and Bitcoin. Groman said:
“Gold and BTC will perform well because they are simply duration assets with a more fixed supply and forward assets with nominal value that can rise.”
Gromen continued: “They do well when a country has a fiscal problem, and when the world's reserve currency problem and its allies are having financial problems and its is at least equally bad or possibly worse than others – even Europe – then gold And it's really good for Bitcoin."
Gromen also touched on the possible consequences of the BRICS countries (Brazil, Russia, India, China and South Africa) launching a gold-backed currency. Such a move could shake the US dollar's long-held position as the world reserve currency. The possibility of a gold-backed currency becoming attractive among these major economies could weaken the dollar's dominance in international trade and finance.
Bitcoin's Bullish Momentum
Cryptoinsightuk's analysis tracks cases where Bitcoin's weekly RSI exceeds the 50 level (green) and falls below that level (red). The expert found that, on average, such events lead to a remarkable 1,100% price increase for Bitcoin. This type of rise could become a reality under favorable conditions, such as a supply squeeze and the introduction of a spot Bitcoin exchange-traded fund (ETF).
Bitcoin's price is currently hovering around $27,450, down 1.2% in the last 24 hours, while recording a gain of 4.9% in the last seven days. Investors will be keeping a close eye on whether Bitcoin's bullish momentum continues in the coming weeks and months. They do.
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