Bitcoin and gold will be the big winners according to JPMorgan

Due to the war between Israel and Iran, JPMorgan believes that Bitcoin and gold have an advantage over other assets.

Right now, the yellow metal is close to its all-time high, while BTC is still far from its ATH.

In any case, the cryptocurrency has registered a strong increase so far this year.

JPMorgan analysts believe that both Bitcoin and gold will increase during the remainder of 2024, due to the growing geopolitical tensions in the Middle East.

The yellow metal is already considered a safe haven and even more so after Iran's missile attack on Israel on October 1.

The Hebrew country's incursions in Gaza and Lebanon suggest that the conflict is just beginning.

After the event, gold shot up to a record high of $2,690 an ounce, then cut part of the gains and traded this Friday at $2,665. Bitcoin, meanwhile, registered a 3.3% jump in the last 24 hours to $62,150, accumulating a 47% increase so far this year, according to CoinMarketCap.

What role do the US presidential elections play for Bitcoin?

For JPMorgan, a Donald Trump victory will boost the price of BTC and also gold, if a scenario similar to that of 2016 occurs. However, the cryptocurrency has not yet been adopted worldwide as a safe haven and, in case the war in the Middle East escalates, BTC could resume its downward trend.

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