BitMEX co-founder Arthur Hayes predicts Bitcoin's price will rise alongside surging oil and energy prices if tensions between Iran and Israel boil over.
Better times for Bitcoin may lie ahead as the co-founder of BitMEX feels that the current geopolitical tensions in the Middle East may only push the cryptocurrency to rise higher. According to Arthur Hayes, the effects of war would resonate intensely in the US economy in the form of increased government spending and inflationary levels […]
Bitcoin's year-to-date return to volatility ratio is significantly lower than gold, according to analysis by Goldman Sachs.
BlackRock’s stance on cryptocurrencies—especially Bitcoin and Ethereum—has lately made headlines. While Ethereum is considered as a “technology bet,” the investment behemoth sees Bitcoin as a “gold alternative.” This point of view captures a major change in the way conventional finance is starting to welcome digital assets. Related Reading: Bittensor (TAO) Soars 130% – What’s Behind The Altcoin’s Recent Surge? The company’s findings show that people are becoming more and more sure that Bitcoin can protect against inflation, just like gold has in the past. BlackRock’s Chief Investment Officer, Rick Rieder, recently said that Bitcoin is appealing to investors who want to protect their wealth in uncertain economic times because there is a limited quantity. Many investors who are growingly concerned about market volatility and inflation will find resonance in this mindset. Bitcoin: The Modern Gold? For those looking for stability in the realm of finance, gold has traditionally been the preferred asset. BlackRock contends, though, that Bitcoin is filling in this function. As the company points out, Bitcoin’s limited supply and spread-out nature could make it a more interesting purchase than gold. Central banks around the world are printing money at rates that have never been seen before. This makes Bitcoin an even better way to save money. “More institutional investors entering the market will only speed up the acceptance of Bitcoin at an incredible rate,” says Rieder. With this new money coming in, demand will grow even faster, making Bitcoin even more of a digital gold standard. Additionally, BlackRock believes that with increased realization of worth and scarcity, the price of the blockchain will keep moving upwards. BlackRock considers Bitcoin a “risk-off” asset like gold. At a recent conference, BlackRock’s Robbie Mitchnick argued that Bitcoin might hedge against fiat currencies and government trust. Mitchnick said Bitcoin is a safe shelter for investors, especially during economic turmoil. As inflation, monetary devaluation, and banking crises develop, Bitcoin’s potential as a worldwide monetary alternative makes it important for financial security. Ethereum: A Technological Transformation Although Ethereum is seen via another perspective, Bitcoin attracts attention as a store of value. BlackRock sees Ethereum as a platform for innovation as much as a cryptocurrency. With its smart contract capability, developers may create decentralized apps (dApps), therefore transforming many sectors, including gaming and banking. Ethereum has great future potential. Ethereum demand may explode as more companies investigate blockchain technology. The analysts of BlackRock are positive about Ethereum’s future and indicate that its core technology might cause rapid increase in the coming years. Related Reading: Starknet: Long Positions Liquidated Lead To 16% Losses The Future Of Digital Assets With BlackRock continuing to invest in these types of cryptocurrencies, that spells massive influence for the financial market. The general financial market is responding in such a trend, with old-time investors now becoming conscious of the potential attached to such digital assets. Featured image from Unsplash, chart from TradingView
Bitcoin fell more than 6% early on Tuesday as a result of Iran’s missile attack on Israel, which intensified tensions in the Middle East. As soon as the market for cryptocurrencies opened up, Bitcoin dropped to its present level, a little below $61,000. Bitcoin had already fallen from about $62,200 earlier in the day, which […]
Cantor Fitzgerald CEO Howard Lutnick advocates for Bitcoin to be classified as a commodity, citing its similarities to gold and oil.
Cantor Fitzgerald CEO Howard Lutnick advocates for Bitcoin to be classified as a commodity, citing its similarities to gold and oil.
Veteran analyst Peter Brandt is making a bold prediction that is creating a lot of talk in the crypto arena: by 2025, Bitcoin should see its price jump 400% relative to gold. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains He feels that, according to the market patterns witnessed so far, Bitcoin could soar to the equivalent of around 123 ounces of gold. This rally potential comes in the wake of general price predictions, as Bitcoin is likely to increase by 65% over the next three months and by almost 100% in six months, data from CoinCheckup shows. Over the next year, an increase of 130% is estimated, meaning that confidence in the upward movement of Bitcoin is quite strong. There has never been a better moment for investors to ponder this question: Will Bitcoin be able to rise above the iconic status of gold as the prime store of value? Never mind if the crypto market cannot resist their bold prophesying; the confluence of key factors appears to portend a triumph for Bitcoin in the years ahead over gold. When I look at chart of Bitcoin/Gold ratio, here is how I view it: $GC_G $BTC $BTCXAU 1. Continuation inverted H&S pattern, neckline at 32.5 to 1 2. Left shoulder low at 14.2 to 1 3. Right shoulder forming flag 4. Could decline into high teens to 1 5. Target 123 to 1 pic.twitter.com/VKvsDqwkuU — Peter Brandt (@PeterLBrandt) September 21, 2024 Institutional Adoption Fuels Optimism A significant reason why Bitcoin is likely to rocket soon is because of the increasing institutional investment. Large financial companies, even governments, have begun to view Bitcoin as a store of value akin to old inflation hedges like gold. Such institutional support will be crucial in propelling Bitcoins’ price even higher as capital continues to pour into the market in more considerable volumes. But perhaps most significantly, decentralized finance has unlocked new use cases for Bitcoin beyond its role as a store of value. By including the underlying cryptocurrencies in the DeFi ecosystem, investors can use their Bitcoin positions in ways gold simply cannot be used. According to Titan of Crypto, another respected voice in the crypto community, Bitcoin’s unique position within DeFi will only strengthen its value proposition against traditional assets like gold. Gold’s Rise Could Boost Bitcoin Interestingly, the forecasted rise in gold prices could indirectly benefit Bitcoin. As gold registers fresh all-time highs, it reinforces the narrative of precious metals as a hedge against economic turmoils. This, however, makes Bitcoin a more functional option considering its digital nature and increasing utility within decentralized finance. Investors looking to diversify may see Bitcoin as a way to gain exposure to both safe-haven assets and the rapidly evolving digital economy. According to Wall Street investment banks, gold is likely to break through $2,700 as 2025 progresses, thanks to the expected rate cuts by the Federal Reserve. If Bitcoin maintains its current trend, its price compared to gold may rise, maybe reaching the 123-ounce threshold. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details How This Feels To Investors The consequences of this prediction are substantial for investors. Those who own Bitcoin would see significant rewards if the alpha coin’s price rose 400% in relation to the popular yellow metal. Investors must exercise caution when considering this opportunity, despite the fact that Bitcoin’s long-term outlook remains optimistic, particularly in light of its projected 132% price increase within the next year. Overall, the crypto landscape is evolving rapidly, and Bitcoin’s role as a store of value could very well surpass gold’s in the coming years. Investors would do well to keep an eye on both assets as economic conditions shift and markets react to global developments. Featured image from Asia Times, chart from TradingView
With the month of October historically seen as an optimistic period for Bitcoin, many bullish predictions about BTC’s short-term potential from crypto analysts are beginning to turn up. Despite recent turmoil, the renewed optimism within the market could be setting the stage for a possible rally, with some experts predicting a new all-time high price […]
Markets are rallying as might be expected on a new rate cut cycle, but crypto continues to struggle.
Crossing above $2,500 per ounce at $2,531, gold prices have reached a fresh record high. Rising hopes of US Federal Reserve interest rate reductions could be the impetus for this movement. Investors seeking the security of gold—the focus of which has left Bitcoin and other cryptocurrencies in its wake—have been driven by worries of an […]
Bitcoin and most crypto assets have been printing higher highs since the failed assassination attempt on Donald Trump. Looking to take over from Joseph Biden, Trump is pro-crypto and even graced the Bitcoin Conference in Nashville, where he delivered a speech. BTC Inching Higher On Donald Trump’s Endorsement With rising odds that Trump will clinch […]
Bitcoin has proven to be a significant part of the upcoming United States Presidential election, garnering interest among major political figures. As the election approaches, Republican presidential candidate Robert F. Kennedy Jr. has called on the nation to acquire millions of BTC as a strategic reserve asset, which he believes could strengthen the US dollar. […]
Data from the on-chain analytics firm Glassnode has revealed how the Bitcoin transaction volume compares with traditional payment processors. Bitcoin Is Currently Witnessing On-Chain Volume Of $46.4 Billion Per Day As explained by Glassnode in a new post on X, BTC’s on-chain transaction volume currently stands at $46.4 billion per day. The on-chain transaction volume […]
Peter Schiff, Global Strategist at Europac, has said again that he doesn’t think Bitcoin will have a bright future in the current battle between gold and Bitcoin. Schiff has always been supportive of gold. He talked about the recent rise in the price of the precious metal and said that it has now reached a […]
Bitcoin (BTC) continues to face downward pressure following major negative developments surrounding the digital asset, which has led to speculations about whether BTC’s bull run has reached its climax. As a result, Cathie Wood, a popular advocate for cryptocurrencies and Chief Executive Officer (CEO) of Ark Invest has delved into the discussion offering her insights […]
As Bitcoin, the flagship cryptocurrency asset continues to garner support from leading figures in the industry, Chris Wood, the Chief strategist at Jefferies in a daring statement that might change people’s perceptions of digital currencies has suggested that the potential collapse of the United States Dollar Paper Standard could significantly benefit BTC holders in the […]
For years, analysts and traders have said cooling inflation would benefit the crypto market, yet prices are still down. Cointelegraph explains why.
Brandt claimed that BTC’s price would fluctuate over the next 12–18 months before finally surging 230% against gold.
Data shows the relationship between Bitcoin and Gold has been growing deeper recently as their 60-day correlation has been riding an uptrend. Bitcoin Has Been Becoming Increasingly Correlated To Gold Recently In a new post on X, Kaiko has discussed about the latest trend taking place in the correlation for Bitcoin and Gold. The “correlation” […]
The price of Bitcoin, the leading cryptocurrency, continues to be a hot topic with analysts offering a spectrum of predictions. Recent price dips have reignited the debate, with some experts warning of a downward spiral while others see a potential buying opportunity. Related Reading: Charity Gets A Digital Boost: $2 Billion In Crypto Donations Empower […]
Popular economist and vocal opponent of Bitcoin Peter Schiff has issued a warning to the cryptocurrency community, predicting that BTC Spot Exchange-Traded Funds (ETFs) buyers will soon start bailing out as they become overwhelmed by the volatility in the market. Bitcoin ETF Buyers Will Soon Bail Out Being known for holding unconventional opinions, investors are […]
Tensions in the Middle East ramped up over the weekend following an Iranian drone and missile attack, which saw the price of PAX Gold and Bitcoin reacting very differently.
Bitcoin fails to follow gold to new all-time highs into the end of the week with BTC price momentum instead heading toward $69,000.
Gold has outperformed after the Federal Reserve expressed a cautious stance on the pace of future interest-rate cuts, the report said.
The age-old debate over how best to store wealth reignites as Bitcoin and gold lock horns. Peter Brandt, a veteran financial trader, throws his weight behind Bitcoin, claiming it will dethrone gold as the long-term champion. Related Reading: Bitcoin Champion Max Keiser Blasts Argentinian President’s Crypto Stance Brandt cites a chart showcasing the leading cryptocurrency’s […]
Gold investors are taking swipes at Bitcoin following a new all-time high for the precious metal.
After Microsoft, all that’s left is gold. But Bitcoin will need a price point north of $800,000 to climb that mountain.
The bank is claiming bragging rights for being the first bank to create a blockchain-based real world asset aimed at retail investors.