Originally published on: November 16, 2024
Bitcoin is on the cusp of breaking out to new all-time highs, but the question remains: will it surpass gold, stocks, and other macro assets? According to financial expert Caleb Franzen of Cubic Analytics, it’s not a matter of if Bitcoin will outperform, but when.
Despite reaching $93,500 and experiencing a 50% increase in Q4, Bitcoin has yet to surpass the S&P 500, Nasdaq 100, NYSE FANG+ tech stock index, and gold. Franzen remains bullish, stating that it’s just a matter of time before Bitcoin breaks out against these assets.
While Bitcoin made history in early 2021 with an all-time high of $69,000, it has yet to surpass other macro assets. However, recent gains against gold signal a potential breakout. Charles Edwards of Capriole Investments predicts a rapid repricing as Bitcoin eyes new highs.
On the flip side, a prominent Bitcoin trader hints at a black swan event causing a crash across risk assets. Despite differing opinions, the future of Bitcoin remains uncertain.
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