Trump Policies Drive Investors Towards Gold, Bitcoin Faces Headwinds

Donald Trump’s recent policy decisions are prompting investors to seek out safe-haven assets such as gold, according to Bloomberg’s commodity strategist Mike McGlone. McGlone believes this shift reflects a potential weakening of risk appetite in the market. As a result, Bitcoin may struggle to maintain its upward momentum, with analysts suggesting it is likely to experience some pullback towards historically predictable price levels. As of April 20th, Bitcoin’s long-term moving average, based on its historical trading behavior, sits at approximately $46,300, indicating a potential decrease of over 45% from its current price level of around $85,000.