Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why
Bitcoin is looking to resume its uptrend towards $12,500 based on its proximity with traditional rival gold. The analogy pops out of an erratic positive correlation between the two assets that have caused them to trade in tandem since March 2020. Both gold and Bitcoin receive their cues from the same set of fundamentals: the […]
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Bitcoin price is setting its sights on the yearly highs at $780 as bulls continue to gain traction. Bitcoin Price Key Highlights. Bitcoin price staged a remarkably strong rally yesterday after a brief pullback to an area of interest highlighted in the previous article. Price is just a few points away from the yearly highs around $780, at which profit-taking could take place. Technical indicators are showing that the rally could carry on. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. The gap between the....
Bitcoin’s price has been caught within a consolidation phase around $13,000 ever since it was rejected at its recent highs of $13,200 This is around the price at which it has been trading throughout the past few days, with buyers and sellers being unable to take control of its near-term trend Yesterday, bulls did attempt to set fresh yearly highs and kickoff a leg higher, but it resulted in a rejection This shows that buyers […]
Bitcoin is approaching all-time highs versus gold. The digital currency broke above $59,000 on Tuesday while gold languished below $1,700. As the Bitcoin (BTC) price edges closer to $59,000, its value relative to gold is approaching new all-time highs, possibly hinting at the emergence of a new preferred store of value.Measured against gold, Bitcoin’s price reached 34.94 ounces on Tuesday. The BTC-gold comparative peaked at 35.35 ounces on March 13 as Bitcoin surged past $61,000. Bitcoin continues to outperform gold by a significant margin. | Chart via BuyBitcoinWorldwideBitcoin’s value....
The market recovery has seen the bitcoin price reach higher highs than expected in the short term. This has come following the announcement that the inflation rate of the US is slowing down, and more investors are bullish once more in the market. But even as the price of bitcoin continues to rise, there is […]
Bitcoin price is undoubtedly in a bull market hitting $16,000 for the first time in years, but a correction may be in order as euphoria is setting in. Bitcoin (BTC) is still showing strength with multiple attempts to break through $16,000 on Nov. 12. A new yearly high was established throughout the day with BTC price peaking at $16,150. This yearly high is more than 300% higher than the yearly low in March at $3,800. This is impressive momentum, particularly as the life is being drained from altcoins.Even Stan Druckenmiller acknowledged this week that he bought Bitcoin, expecting BTC to....