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 […]
Related News
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....
Former chairman and co-founder of CoinRoutes and now president of BetterTrade.digital Dave Weisberger used a November 11 video to restate Bitcoin’s long-term bull case, arguing that the market’s “morose” sentiment and technician-driven calls for downside are missing the structural shift underway on both fundamentals and market microstructure. He framed his analysis in two parts—why Bitcoin is being bought and what the current market structure implies—contending that the thesis toward seven-figure pricing remains intact even without an obvious near-term catalyst. The Path To $1 Million Per....
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....
Gold’s price climbed to new all-time highs in mid-October, breaking above $4,000/oz for the first time in history, before eventually reaching a peak of $4,342/oz. The yellow metal’s rally came at a time when BTC was enduring a flash crash that pulled its price down to $101,000 very briefly. This contrast between gold’s strong rise […]