Value

Gold

Gains

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-gains-traction-as-gold-declines-in-value/" data-wpel-link="internal">Bitcoin Gains Traction as Gold Declines in Value</a> 
Since the 2024 U.S. Presidential elections, gold has lost 5% of its value, while Bitcoin (BTC) has surged by 30%. According to QCP Capital, this shift indicates a growing interest in Bitcoin, often referred to as “digital gold.” The trend is viewed as a structural shift as capital flows from traditional safe havens, particularly gold, towards Bitcoin. 
<h2 style="text-align: justify" id="strong-bitcoin-s-market-value-rapidly-increases-strong">Bitcoin’s Market Value Rapidly Increases</h2> 
Bitcoin’s market value has reached $1.73 trillion, surpassing the value of silver. However, it still lags significantly behind the $17.5 trillion gold market. QCP Capital analysts predict that if just 1% of capital flows from gold to Bitcoin, the leading <a href="https://en.coin-turk.com/sec-chairman-gary-gensler-comments-on-cryptocurrencies-again/" data-wpel-link="internal">cryptocurrency</a> could soar to a value of $97,000. 
This situation presents a significant opportunity for investors and reinforces Bitcoin’s narrative as “digital gold.” 
QCP Capital analysts view the current volatility in Bitcoin’s price as a sign that capital flows are shifting. They note that gold is losing its former allure as a safe haven, positively impacting Bitcoin. 
<h2 style="text-align: justify" id="strong-investors-focused-on-110-000-and-120-000-levels-strong">Investors Focused on $110,000 and $120,000 Levels</h2> 
As Bitcoin trades just below the critical $90,000 level, the premium on November futures has exceeded 18%. This increase reflects heightened demand for positions at higher price levels. Notably, there is significant interest in long options at the $110,000 and $120,000 levels, indicating that investors are preparing for a potential upward movement by requesting more margin and leverage. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-405970" src="https://coin-turk.com/wp-content/uploads/2024/11/BTC_1M_graph_coinmarketcap-2.jpeg" alt="" width="1002" height="668"> 
Currently, Bitcoin is trading at approximately $87,100, marking a 6.03% increase over the past 24 hours. The leading cryptocurrency’s market capitalization stands at around $1.72 trillion. 
The post <a href="https://en.coin-turk.com/bitcoin-gains-traction-as-gold-declines-in-value/" data-wpel-link="internal">Bitcoin Gains Traction as Gold Declines in Value</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Gains Traction as Gold Declines in Value

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