Bitcoin Vs. Gold: Experts’ Price Predictions See The Apex Crypto Catching Up Soon
Bitcoin‘s (CRYPTO: BTC) potential to reach new all-time highs could be linked to the movements of gold, according to experts, who draw parallels between the two assets based on historical trends.
What Happened: As gold continues its upward trajectory, some analysts are looking to the yellow metal’s performance as a potential indicator of when Bitcoin might experience its next major breakout, according to a Coindesk report.
Since April, Bitcoin has been trading within a wide range, fluctuating between $50,000 and $70,000.
During the same period, gold has surged by over 20%, hitting record highs above $2,700, with silver also rising by 43%.
This trend echoes patterns observed in 2020, when gold’s rally eventually gave way to Bitcoin’s rapid ascent.
“Bitcoin’s price action has been largely range-bound for months, while gold has continued to push higher,” crypto analyst Noel Saldanha told Benzinga. “In 2020, Bitcoin didn’t start its significant move until gold’s bullish run began to slow down, suggesting we could see a similar …
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