The recent money-printing spree the Federal government has gone on has prompted financial analysts everywhere to advocate holding gold over fiat. However, the reasons they are providing are also the best possible reason to own Bitcoin.
Will investors open their eyes to Bitcoin’s potential value? Or will it take the crypto asset continuing to outshine gold for investors to finally take note?
Economists: Avoid Fiat in Post-COVID World
2020 has been an unusual year. The stock market started off by reaching a new all-time high. Bitcoin was trading well over $10,000.
Then the coronavirus hit, and the economic outlook has never been the same.
The stock market tanked, setting records for the worst quarterly close, while unemployment rates skyrocketed to the worst levels since the great recession.
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Even safe-haven assets like gold took a hit, and Bitcoin set a record for one of the worst single-day collapses in the asset’s history.
Most assets have since recovered, but in the long-term, most analysts are pointing to gold as the best place to park capital while the crisis unfolds. But more importantly, the worst place to put money right now is in fiat currencies.
Fat Prophets’ David Lennox told CNBC in an email that “fiat currencies post COVID will not be the place to be invested.”
Lennox referenced safer bets being made by parking assets in something that has backing by a physical commodity. But what about a digital commodity?
The same reasons for gold to outperform fiat during a crisis, are the same attributes that give Bitcoin its inherent value.
Gold and Bitcoin to Shine in Inflation-Fueled Future
Gold is up 12.3% for the year thus far, with Bitcoin up over 23%. Although there’s nearly double the gains in terms of ROI, the amount of capital making its way into gold over Bitcoin is substantial.
BTC/USD & XAU/USD charts provided by PrimeXBT – a Bitcoin-based margin trading platform offering access to over 50+ assets including Crypto, Forex, Metals, Oil, Gas, and Indices.
It takes nearly the entire Bitcoin market cap to move gold just 2-3%.
However, because Bitcoin’s ROI can increase so significantly with similar levels of capital, the potential returns for Bitcoin far outweigh gold.
RELATED READING | FLIGHT TO BITCOIN IN ARGENTINA DUE TO DEBT CRISIS IS A SIGN OF WHAT’S TO COME
The two assets are both incredibly scarce, giving them a hard value during a period of inflation. With money being printed left and right, the environment for these assets to shine is ideal.
Only time will tell if the first-ever cryptocurrency can eventually outshine gold and become as widely respected and turned to during crisis, however, there’s never been a better opportunity for Bitcoin to show its true colors and outperform not only gold but green as well.
Featured image from Pixabay origin »
Analysts foresee Bitcoin dropping to $60,000 before a bullish surge in 2025, citing weak momentum, breached support levels, and nervous investor behavior.
The post Analysts Worry Bitcoin Price Might Drop to $60,000 in the Short-Term appeared first on BeInCrypto.
The recent rejection at the $100,000 has prompted a wave of warnings from leading financial analysts, who caution that Bitcoin could be poised for a significant pullback toward the $70,000 region or, in some cases, even $60,000.
Bitcoin’s (BTC) recent breach of the $100,000 price level has sparked discussions among analysts about market conditions and potential risks — while some metrics suggest caution, others indicate room for further gains, according to analysts.
Bitfinex analysts warn that Bitcoin could drop by up to 20% as the Federal Reserve’s upcoming interest rate decision introduces uncertainty. The price of Bitcoin (BTC) might be on the verge of a 20% decline, as Bitfinex analysts warn that…
Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic.
Bitcoin has risen above $36,000 and is currently targeting $37,000 as Bloomberg analysts Eric Balchunas and James Seyffart have revived hopes that a Spot Bitcoin ETF could be approved this year. The analysts maintain their belief of a 90% chance that any of these funds get approved by January 2024.
Holders of massive amounts of Bitcoin (BTC) are continuing to buy the asset regardless of the recent dip in crypto markets, data from several sources shows. Some analysts say such investment behavior is what precedes bull runs, hinting that another may be on the cards in the next few months.
The price of Bitcoin has surpassed $19,300 once again, after dropping to as low as $16,200 on November 26. Following BTC’s surprising intraday rally, analysts say it is preparing for an all-time high.
Despite a slight bounce Friday morning, some analysts don't expect bitcoin to chart a quick recovery from the double-digit price drop over the last two days.
While Bitcoin has bounced from the local lows of $11,400, the asset remains below some crucial resistance levels. This has led some analysts to suggest that BTC is still poised to correct lower. Many analysts are eyeing $10,500, as that’s where the cryptocurrency truly began the rally $12,000.
The bull run that has kept Bitcoin trading above $10,000 has sparked discussions. In our last report, we noted that analysts are still very optimistic about Bitcoin hitting the $20,000 mark. Some analysts are confident that the bear market is over, and while this could mean a lot of things for different Bitcoiners, it generally […]
Today’s Bitcoin price drop below USD $7k has taken some by surprise, yet it is causing little concern among analysts, In fact, the mood is optimistic, as most believe that the market will recover quickly, with the flagship crypto currency soon surging much higher.
Bitcoin has seen a notable upswing today that has marked a significant extension of the momentum that was first incurred yesterday when the benchmark cryptocurrency rallied from lows of $5,100 after being caught within a bout of sideways trading for an extended period of time.
Bitcoin prices remain vulnerable to more dives even as top analysts print a rosy picture for the cryptocurrency. The bitcoin-to-dollar exchange rate appears trapped inside a technical range, dubbed as Symmetrical Triangle, since March 12.
Bitcoin’s firm uptrend throughout 2020 has now led it to reach a key near-term resistance level that its bulls are currently contesting. This has resulted in mixed feelings amongst analysts as to where BTC will go next.
At long last, Bitcoin has shown signs of life, rallying by 20 percent from the $6,800 bottom put in nearly two weeks ago. Although this recent price action has been deemed a “relief rally” by some analysts, more and more indicators suggest that BTC and the rest of the cryptocurrency market are on the verge […]
The post Analysts explain why Bitcoin is ready to enter a bull market again appeared first on CryptoSlate.
After a long period of consolidation within its previously established trading range, Bitcoin’s bears have now taken control and have pushed BTC’s price below its previous support level that existed around $9,000.
Bitcoin has inched higher overnight after facing a short bout of consolidation within the lower-$9,000 region. BTC still has a long way to go before it revisits its recent highs of $10,600 that were set at the peak of the recent rally.
After briefly dipping into the $7,000 region yesterday, Bitcoin (BTC) has once again been able to maintain this region as a strong level of support, as it has now climbed back to $8,100 during a strong move that followed its drop to lows of just under $7,900.
After experiencing a long period of sideways trading within the lower-$8,000 region, Bitcoin (BTC) has once again extended its downwards momentum and has begun moving lower today as it has broken below $8,000 on most major exchanges.
Donald Trump is upping the pressure on China, and analysts say this is bullish for Bitcoin. For those who missed the memo, on Friday morning, the American President unleashed his latest volley at China (and the Federal Reserve) in a series of tweets.
Bitcoin and the aggregated crypto markets have faced an extension of the downwards pressure that they have been battling with over the past several weeks, which briefly sent BTC back into the four-figure price region before it found some buying pressure that allowed it to climb slightly higher.
That’s right, at long last, Bitcoin (BTC) has reached five digits in the ongoing bull run, according to TradingView. com. The last time the cryptocurrency was in this price range was a year ago.
The Bitcoin (BTC) bulls have done it. They have entirely shaken off last week’s flash crash, which saw BTC plummet to $6,100 on Bitstamp and $6,500 on other major exchanges. With this strong rebound, which came after a period of ranging between $7,000 and $7,300, analysts have adjusted their outlook to the new conditions.
The crypto markets have dipped as they head into the weekend after incurring a significant amount of upwards pressure throughout this week. The latest drop has put Bitcoin (BTC) back into the $5,600 region, signaling that the cryptocurrency’s bulls don’t have enough buying pressure to propel the crypto above $5,800.
Ever since Bitcoin fell to its most recent local bottom of $3,400 back on February 6, 2019, the leading cryptocurrency by market cap has been in the longest stretch of uptrend since reaching its all-time high of $20,000.
Bitcoin has been able to maintain relative levels of stability over the past weekend, despite an unfolding trend where BTC incurs larger levels of volatility during weekend trading sessions. Although Bitcoin is currently stable above $3,900, many analysts are still weary of its current price action, and one analyst believes a drop below BTC’s 2018.
As Bitcoin moves ever closer to its block reward reduction, analysts are becoming more and more convinced that BTC will rally into the quadrennial event. One analyst notes that as this market nears the auspicious shift in issuance, the cryptocurrency could double by value, especially considering historical trends.
Bitcoin Could Reach $5,000 By May For the first time in a blue moon, the cryptocurrency market’s prospects have seemingly begun to look bright. Analysts have acknowledged this, and have begun to express cautious optimism.
Bitcoin (BTC) has kicked off the weekend trading up slightly but has still been unable to decisively move above $4,000, which has proven to be a key psychological resistance level for the cryptocurrency.
With Bitcoin constantly testing a big resistance zone price predictions are coming thick and fast. The longer BTC stays below the $4,000 barrier the more likely a move to the downside will occur.
Analysts and investors alike widely believe that increased adoption of cryptocurrencies, like Bitcoin, will help drive their price higher while also providing more stability to the nascent markets.
CoinSpeaker
Bitcoin Volume Research: Bitcoin is in a Phase of Continuous Development, and Here’s Why
Professional crypto analysts from DataLight’s team share comprehensive Bitcoin volume research, which clearly shows that, despite the bear market of 2018, the game is far from being over for Bitcoin.
Positive news has been stretched thin during the “Crypto Winter,” but there are now genuine signs that the ice is beginning to thaw. With Bitcoin showing remarkable resiliency and price stability in a world that wants to write it off, there are many fundamentals to which believers in the world’s largest cryptocurrency like to pay attention.
Bitcoin has firmly planted itself within the upper-$3,000 region over the past several weeks and has continued struggling to break above the low-$4,000 region. Because BTC has failed to garner any significant buying pressure over the past several weeks, some analysts believe that a drop back to its 2018 lows of $3,200 is inevitable.
The cryptocurrency market has experienced its longest ever bear market, and there’s no saying whether it’s over or not.…
The post Bitcoin (BTC) Price Should Hit $20k in March 2021, Analysts Predict appeared first on Invest In Blockchain.
Analysts Believe Bitcoin Could Drop To $1,500 Before Reaching $6,500 As the cryptocurrency market is operating positively, the community is very excited regarding the future price action of virtual currencies.
The biggest discussion point around Bitcoin currently, is whether or not the first-ever cryptocurrency has bottomed or not, and if the bear market will soon be ending or if a lot more pain is ahead for crypto investors.
Bitcoin is looking to resume its uptrend towards $12,500 based on its proximity with traditional rival gold. The analogy pops out of an erratic positive correlation between the two assets that have caused them to trade in tandem since March 2020.
Coinspeaker Bitcoin, Ethereum, Gold Analysis, Levels to WatchBitcoin for the first time since the early September crash, is showing signs of its comeback.Bitcoin, Ethereum, Gold Analysis, Levels to Watch
Coinspeaker Bitcoin and Gold Recover on a Silent MondayCryptocurrency market is showing recovery after a divergence last week, commodities follow the lead, hence Bitcoin was able to gain 1.
Bitcoin rallied above $9,600 during the afternoon hours of the New York session Thursday. But it corrected lower on profit-taking sentiment among daytraders. Market analyst Ryan Scott warned that Bitcoin could undergo an “insane shakeout wick.
Bitcoin climbed higher in the last 24 hours, breaking above the $9,500-mark for the first time in a month. The jump helped improve the cryptocurrency’s short-term bullish sentiment after weeks of a sideways trend.
The correlation between Bitcoin and its traditional rival Gold reached a four-month high on July 22. At the same time, the cryptocurrency’s correlation with the S&P 500 index plunged to its one-month low.