Now about the bullish trend for gold and Bitcoin. Below is an analysis my friend shared with me. It is exciting to see that both assets as a store of value are breaking out strongly to the upside. Looks like gold may face a near-term correction but Bitcoin is likely just resuming its next major leg up. I think the chance is high that Bitcoin will end the year between $150K to $200K.
But if history is any guide, when gold breaks out like it has this year – bitcoin’s breakout isn’t far behind. And as bitcoin goes, so go the altcoins. |
We saw that happen in 2020 and 2024.This chart below shows the price action of bitcoin and gold during the 2020 pandemic outbreak. |
During the initial panic, gold rallied first. But once the market realized governments would crank up the money printer and flood the economy with liquidity… bitcoin took off. From September 2020 to April 2021, it rallied 543%.
Something similar happened in 2024 as well.
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