Analyst Forecast: Bitcoin May Need Three Months to Mirror Gold Bull Market Performance
Publication Time:2024-08-13 18:06:06
The founder of the digital asset fund Capriole Investments shared an analysis report where he expressed hope in Bitcoin’s price movement. He presented a comparative chart of Bitcoin and gold prices starting from the end of 2019, indicating that whenever gold shows a new trend, Bitcoin typically follows suit around three months later. To illustrate this relationship more clearly, the analyst overlaid the price of gold against the US dollar (XAU/USD) with Bitcoin against the US dollar (BTC/USD). Based on his experience, Bitcoin's long-term trends usually lag behind gold by several months on a macro scale. This observation offers insights into how Bitcoin might potentially follow gold market dynamics in the future, particularly when considering its investment and value storage potential.
Bitcoin
Gold
bull market
price trajectory
analyst forecast