Research Company: Bitcoin is stagnant, gold performance may be better
Over the past month, both gold and Bitcoin have been rising in sync and hitting new highs. However, since 2021, Bitcoin has also been reflecting its unique trend, soaring twice to historical highs before experiencing a significant correction. Rob Kingsberg, managing director of research firm Wolfe, said that while we certainly won't see another 50% major pullback in Bitcoin, we wouldn't be shocked if it continues to stagnate above $70k. However, gold may perform better. Kingsberg stated that the ratio of gold to bitcoin is close to support levels but weekly lines are oversold. If our view on Bitcoin is correct and it continues to consolidate between $60k-$73k range then this could provide a better opportunity for Gold's performance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Whale “ThisWillMakeYouLoveAgain” sold 29,400 AAVE at a loss of over $6 million
Meme Coin Whale Chasing ASTEROID Faces Zero Win Rate, Trapped with Nearly $100,000 in Unrealized Losses
Curve Finance announces Suspension of LayerZero Infrastructure in Protocol
Trending news
MoreAccording to CCTV Finance, Cai Shaodong, a senior analyst in the electronics industry at Changjiang Securities, said on the "Qianhai Guest Room" program: "HBM (High Bandwidth Memory), this new product has achieved more than 10-fold growth in the past three years. We can see that the overall market size will reach 35 billion USD in 2025, and it is expected that the whole market will exceed 100 billion USD between 2027 and 2028."
Whale “ThisWillMakeYouLoveAgain” sold 29,400 AAVE at a loss of over $6 million