Originally published on: November 16, 2024
Bitcoin has been on a steady rise, with its price reaching $91,066 and gaining nearly 50% in Q4. However, despite these gains, Bitcoin has yet to match the all-time highs of other major assets like the S&P 500, gold, and tech stocks.
According to financial research expert Caleb Franzen, this is just a matter of time. Franzen predicts that Bitcoin will outperform these assets soon, setting new all-time highs along the way.
While Bitcoin has made significant strides in recent months, it still lags behind the S&P 500, Nasdaq 100, NYSE FANG+ tech stock index, and gold. But with the recent breakout against gold and positive market sentiment, many experts believe that Bitcoin is gearing up for a major price surge.
Charles Edwards, founder of Capriole Investments, anticipates a “rapid repricing” of Bitcoin now that it has broken out against gold. He draws parallels between Bitcoin’s current situation and gold’s breakout in the 2000s, suggesting that Bitcoin could follow a similar trajectory.
However, not everyone is as optimistic. Some traders, like Il Capo of Crypto, are hinting at a possible black swan event in the market, implying a potential crash across various risk assets. While this perspective is more bearish, other traders like Credible Crypto remain cautiously optimistic, setting $72,000 as a downside target to watch.
In conclusion, Bitcoin’s price movement is closely watched by traders and investors alike. Whether it will surpass $100,000 and outperform gold and stocks remains to be seen. As with any investment, it’s essential to conduct thorough research and make informed decisions based on your risk tolerance and investment goals.
