Gold

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoin-price-trends-and-predictions/" data-wpel-link="internal">Bitcoin</a>‘s price, which recently surged to $70,000, has now dropped to $62,900. The exact cause of BTC’s decline is unknown, but it has affected the entire market. Amidst these market changes, an analyst drew attention by comparing BTC with gold.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">A cryptocurrency expert examined the correlation between Bitcoin (BTC) and gold and shared an analysis. The analyst emphasized the potential impact of the precious metal on the next crypto bull run.</p> 
<p style="text-align: justify">Crypto analyst CryptoCon shared a post on July 31, noting that historical bull markets in Bitcoin began during bear markets in gold.</p> 
<p style="text-align: justify">Specifically, Bitcoin’s 2013 bull run coincided with a gold bear market. Similarly, in 2017, Bitcoin’s rise occurred during a gold bear market, and this inverse relationship repeated in 2021.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376196" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-analist-coin-turk-com.png" alt="" width="500" height="296"></p> 
<p style="text-align: justify">CryptoCon’s analysis identified periods of 196 and 213 weeks from a gold bear market to the next significant market movement, reflecting a pattern in the timing of these market changes.</p> 
<h2 style="text-align: justify" id="critical-period-for-bitcoin">Critical Period for Bitcoin</h2> 
<p style="text-align: justify">Since the peak of the last gold bear market in August 2020, 208 weeks have passed. Historical analysis suggests the market is approaching critical levels, indicating a significant change may occur soon.</p> 
<p style="text-align: justify">Accordingly, CryptoCon’s analysis suggests that the upcoming gold bear market could bring a Bitcoin bull run.</p> 
<blockquote> 
 <p>Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> starts where the gold bear market begins. Big change and Bitcoin bull run are imminent.</p> 
</blockquote> 
<p style="text-align: justify">Indeed, Bitcoin and gold have been compared as value preservers over time. Bitcoin advocates believe cryptocurrencies will replace precious metals and be known as ‘digital gold.’</p> 
<p style="text-align: justify">As of today, gold has risen above $2,400 and continues its upward momentum. Notably, gold has gained value due to geopolitical tensions between Israel and Lebanon in the Middle East.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a></h5>
<p>The post <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analyst Compares Bitcoin and Gold to Highlight Market Trends

Table of Contents

COINTURK NEWS

Other articles published on Aug 1, 2024

Euro Stablecoin EURC Stablecoin Launches On Ethereum Layer-2 Blockchain Base

Montenegro Court Decides to Extradite Do Kwon to South Korea

Fidelity International Launches Physical Bitcoin ETP on London Stock Exchange – Could It Push BTC...

India Becomes Top Market for Meta AI, Says Meta Q2 Report

Telegram launches mini app store alongside new web3 browser

Peter Brandt Predicts Bitcoin’s Future

Join our free newsletter for daily crypto updates!