Matrixport: Gold's new high will strengthen the logic of Bitcoin's bull market, and the overall upward trend is expected to continue
This article is machine translated
Show original
Odaily reports that Matrixport's coin issuance chart today indicates that it is difficult to maintain a bearish stance on Bitcoin when gold hits a new all-time high. Since gold broke through $2,000 in the summer of 2023, we have been emphasizing this positive signal, which marks a significant shift in market sentiment. Subsequently, BlackRock has further promoted the "digital gold" narrative of Bitcoin, driving its price increase. Initially, gold was seen as a hedge against the inflation of US debt, but now it is also considered a safe-haven asset to avoid the risk of US tariffs. Regardless of how the market interprets the current narrative, the status of gold and Bitcoin as alternative assets is constantly rising, and their momentum is increasing. Although the breakthrough of $3,000 for gold or $100,000 for Bitcoin may trigger short-term consolidation, the overall upward trend is expected to continue.
BTC
3.92%
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content