Analyst: Bitcoin price may take 3 months to replicate gold bull market

2024-08-13 18:05:19

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ChainCatcher news, the founder of the digital asset fund Capriole Investments stated that the BTC price trend still looks "promising." Edwards uploaded a comparative chart of BTC price trends against gold price trends since the end of 2019, concluding that once gold begins to show a new trend, Bitcoin just needs time to catch up. Overlaying XAU/USD onto BTC/USD reveals that Bitcoin's latency is about three months. "According to a rough rule of thumb, Bitcoin's macro trend typically lags behind gold by several months."

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