Bitcoin's $130K Target: Catching Up to Gold's Record Highs, Says Analyst
According to reports, Bitcoin is poised for a potential rally, following the lead of gold and silver's recent surge to all-time highs. Gold has reached over $4,600, with predictions of exceeding $5,000, while silver has surpassed $90. Market analysts suggest this reflects a shift towards "hard assets" amid global macro uncertainty. While Bitcoin has also made gains, topping $95,000, some observers believe it tends to follow hard-asset momentum with a delay. Bitwise Europe's head of research, André Dragosch, highlights a "Gold to Bitcoin Rotation," noting gold's tendency to lead Bitcoin by four to seven months. This lag suggests institutional capital initially flows into gold as a safe haven before rotating into Bitcoin as risk appetites adjust. Bitcoin analyst Sminston With supports this view, pointing to historical data showing gold bull runs preceding Bitcoin breakouts.
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