Markets lose steam as UK businesses call for larger lockdown support package – business live
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The mayor of London, Sadiq Khan, has also called on the chancellor to extend VAT relief and targeted support for businesses in the night-time economy:
The Chancellor’s financial support package for businesses is a step in the right direction, but much more is needed to bridge the gap for the millions of people whose livelihoods have been directly affected by this pandemic. My statement: pic.twitter.com/K6eLBruxc7
While bitcoin is still trading below Sunday’s all-time of $38,000, JP Morgan has predicted that the cryptocurrency could trade as high as $146,000 if it solidifies its reputation as an alternative to gold.
Bitcoin’s competition with gold haas already started in our mind.
Considering how big the financial investment into gold is, a crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term.
We note that the spectacular bitcoin rally of the past few weeks has moved bitcoin into more challenging territory, not only in terms of its positioning backdrop but also in terms of its valuation.
