Bitcoin Strengthens Vs. Gold, Analyst Sees ‘Higher Than Expected’ Returns
Bitcoin’s price may surge above $200,000 next year, according to recent analysis by X account Apsk32. He warns that the familiar four‑year cycle for BTC often lines up with fresh highs. Short swings have hit traders hard before. This time, bulls say Bitcoin could even top $250,000 in 2025. Related Reading: XRP Frenzy Builds: Over $1 Billion in Open Interest Signals Breakout Tension Bitcoin Gold Link According to Apsk32, Bitcoin often trails gold by a few months. Gold hit a record $3,500 per ounce earlier this year. If Bitcoin follows that path, it could surge. He measures Bitcoin’s market....
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An optimistic forecast for gold is making Bitcoin equally bullish, thanks to its erratically positive correlation with the crypto. Gold Boom Ahead Frank Holmes, CEO of US Global Investors, told Kitco News that the gold market is forming a bottom. Simultaneously, the analyst maintained his upside target for the precious metal at $4,000 in 2020 despite the fears of uncertainty around November’s US election and the second coronavirus stimulus package. “The bottom that you’re seeing […]
The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon. Gold-Backed Tokens Surge These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold.....
One analyst says Bitcoin is "eating" the precious metal as gold bugs scramble to find support amid repeated new all-time highs. Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000.Data noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys just 0.0352 BTC.XAU/BTC plumbs new depthsSince hitting new all-time highs on Wednesday, the price of gold in Bitcoin terms became even cheaper, with one ounce costing $1,794 or 0.0349 BTC at the time of writing."Bitcoin is eating gold in one....
For many years, investors have been arguing if Bitcoin is better than gold. The leading cryptocurrency has long been dubbed “digital gold” because it has characteristics that many believe makes it a competitor or successor to the precious metal. According to one investment analyst and podcaster, BTC is better than gold for the simple reason […]
A recent meltdown in the Bitcoin price from its record high near $42,000 has done little to shake its bullish bias, at least according to a Bloomberg analyst.