Gold Rotation Impact: Bitwise Warns Bitcoin Could Skyrocket To $242,000
Following a significant rally, the valuation of gold has begun to decline. Meanwhile, Bitcoin (BTC) appears to be experiencing a slight capital rotation towards it, as evidenced by Tuesday’s price performance, which led to a recovery of the $112,000 mark. In this context, asset manager Bitwise has released a new report that outlines promising price prospects for the market’s leading cryptocurrency, despite the challenges it has faced over the past few weeks. How Gold’s Rise Fuels Bitcoin Opportunities Authored by Andre Dragosch, Max Shannon, and Aayush Tripathi from Bitwise....
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In one of the most striking moments of this cycle, gold has lost trillions in market capitalization, a drawdown larger than the entire value of Bitcoin itself. The metal that once symbolized stability is now showing cracks, while BTC, the asset branded as volatile, has remained remarkably resilient. What It Means For Bitcoin Next Market Cycle For decades, gold has been hailed as the ultimate safe-haven, and it has been rock-solid. However, a seasoned financial analyst, Tom Tucker, has revealed on X that Gold, the world’s oldest store of value, has lost $2.5 trillion in market value, which....