The Future of Bitcoin: Lessons from Gold Bull Run’s History
In recent months, Bitcoin has underperformed overall, remaining stagnant as other assets have appreciated in value. Bitcoin was unable to match the records set by gold and US stock indexes prior to last week’s massive sell-off.
The creator of Capriole Investments, Charles Edwards, now suggests that the wait might not be very lengthy. On August 13, Edwards stated in a post on X that the price motion of Bitcoin is still promising. After uploading a chart that contrasts the price movement of Bitcoin with that of gold since late 2019, Edwards came to the conclusion that Bitcoin takes some time to follow a new trend that gold initiates.
As a rough rule of thumb, macro Bitcoin trends are often lagged behind gold by a few months. Looks promising.
Edwards
Gold’s Post-ETF Behavior Hints at Promising Bitcoin Trends Through 2025
According to statistics from TradingView and Cointelegraph Markets Pro, XAU/USD reached its most recent all-time high in mid-July. The co-founder of Reflexivity, a cryptocurrency research firm, William Clemente, showed another chart that compared the behavior of gold prices after the company’s 2004 ETF debut. According to Quinn Thompson, the founder and chief investment officer of the cryptocurrency hedge fund Lekker Capital, gold had about ten to twelve months of consolidation before starting to rise after introduction, as he pointed out on X with a chart.
If BTC follows, confluence with other factors pointing towards favorable performance into 2025.
Thompson
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