Technical Expert Outlines Bitcoin Path To Gold’s Nearly $10 Trillion Cap
Bitcoin was designed to share several key similarities with gold, but the end result was an all-digital asset that does what the precious metal does best even better and then some. Eventually, the first-ever cryptocurrency could share a similar-sized market cap as the precious metal has currently, and one of the crypto community’s best chartists […]
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Galaxy Digital’s billionaire CEO told CNBC he’s shocked at the speed of cryptocurrency adoption. Galaxy Digital CEO Mike Novogratz believes Bitcoin (BTC) is on track to meet or exceed gold’s market capitalization amid a rapid wave of retail and institutional adoption of the digital asset. In an interview with CNBC’s Squawk Box, Novogratz said cryptocurrency “adoption’s happening much faster than I predicted,” adding that “it’s shocking to me how fast people are moving into the system.”Novogratz, who has been involved in Bitcoin since 2013 when the digital currency was valued at around....
Bitcoin appears to be walking a well-worn path, one that gold traced out not long ago. According to an analysis shared by crypto analyst Ted Pillows on the social media platform X, the current price structure of the leading cryptocurrency is closely imitating gold’s trajectory from its accumulation phase through distribution and a breakout rally. […]
Bitcoin has shown renewed strength on the weekly timeframe by resuming a steady uptrend that began earlier in the year. After several weeks of ranging between $110,000 and $120,000, Bitcoin is now on intense momentum supported by institutional demand, which has led to a new all-time high in the past 24 hours. Interestingly, technical analysis of Bitcoin’s weekly price chart shows the cryptocurrency is gearing up for an explosion to $200,000. This projection is based on Bitcoin’s ongoing price behavior being an exact replica of Gold’s rally during the 1970s. Bitcoin Aligning With the....
It seems $600,000 a coin is the minimum target for analysts over at Ark Invest, who believe Bitcoin will match and then surpass the market capitalization of gold. Ark Invest believes Bitcoin’s (BTC) market capitalization will one day “comfortably eclipse” that of gold, and exceed $10 trillion, reports the London Times. Headed up by veteran stock picker Cathie Wood, analysts at Ark believe Bitcoin’s $1 trillion value is set to rise tenfold in the coming years, as it moves from being a fringe asset to a mainstream financial tool.The value of Bitcoin doubled since January 2021 alone,....
In a wide-ranging interview with Anthony Pompliano published on October 2, Jeff Park, partner and Chief Investing Officer at ProCap BTC, argued that gold’s surging price and shifting global ownership patterns are not a threat to Bitcoin—but potentially the catalyst for its next structural leg higher. Park’s thesis centers on flows, geopolitics, and balance-sheet mechanics: if policymakers and large allocators learn to tap the paper gains embedded in sovereign gold holdings, they could redirect a meaningful slice of that liquidity into Bitcoin and ignite what he repeatedly framed as a....