Research company: Bitcoin is stagnant, gold may perform better
2024-03-29 04:01:43
Over the past month, gold and Bitcoin have been rising synchronously and both have reached new highs. However, since 2021, Bitcoin has also been reflecting a unique trend, soaring twice to historical highs before experiencing a significant pullback. Rob Ginsburg, Managing Director of Wolfe, a research company, said that although Bitcoin will definitely no longer experience a 50% major pullback, we would not be shocked if Bitcoin continues to stagnate above $70000. However, gold's performance may be better. Ginsburg said that the ratio of gold to Bitcoin is close to support, but the weekly trend is oversold. If our view on Bitcoin is correct, it will continue to consolidate in the range of $60000 to $73000, which may provide a good opportunity for gold to perform better.
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