Digital Assets: CelticGold, An EU Gold Company, Advocates Bitcoin

February 17, 2020 | Digital Assets, Latest News, News

The gold company advises investors to get over their crypto inhibitions.

CelticGold, a Frankfurt-based precious metals trading company, that trades “one of the largest portfolios of investment gold & silver coins and bullion worldwide,” has recommended bitcoin as an investment. (NEWSBTC).

“At least 10% and a maximum of 25% of one’s total assets should be invested in precious metals (mostly physically), while in cryptos and especially in Bitcoin one should hold at least 1% and a maximum of 5%,” CelticGold said in a post last week.

Dave the Wave on bitcoin

The gold company’s recommendation in favor of bitcoin may have something to do with the many highly bullish price targets being put forward by analysts.

One estimate, by highly regarded analyst Dave the Wave, is that BTC will touch the magic figure of $100,000 in two to three years. Dave the Wave has a reputation for some pretty accurate predictions in the past. He foretold price bottoms at low-$3,000s in December 2018 and $6,400 in December 2019.

Recently, he was on point with his claim that BTC will recoup towards $11,000.

CelticGold looks at the XBT-XAU chart

However, CelticGold too has a technically-oriented view on BTC, but that has more to do with the Bitcoin/Gold price ratio.

When charted, the XBT/XAU line is moving inside of a long-term consolidation triangle. According to CelticGold, the breakout is imminent to the upside given its recent bullish momentum.

“Since the high in December 2017, the ratio has been running into a large consolidation triangle for over two years. Not much is missing, and Bitcoin will break out against gold. Already in 2019, Bitcoin outperformed all other asset classes with an increase of over 92%. Since the beginning of the year, Bitcoin´s performance has been a breathtaking 46.7%.” – CelticGold.

Though gold has been rising, bitcoin has been rising faster, and the ratio may gather further upside momentum. CelticGold expects gold to rally up to $1,800 within the next three months.

Remove your mental blocks

“Conservative precious metal investors are therefore well advised to free themselves from their mental blockages and to diversify at least a tiny part of their assets into Bitcoin during the next dip,” says CelticGold. “The king of cryptocurrencies should bring breathtaking gains again this year and will possibly outperform gold again.”

Related Story: Digital Assets: Will Bitcoin be the New Gold Standard Backing ‘Fiat’ CBDCs?

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