Gold

Bitcoin

Gold and Bitcoin have both hit remarkable milestones, making headlines in the financial world. Gold soared to an unprecedented all-time high of $2,100 during the Asian trading session on December 4th. 
Simultaneously, Bitcoin experienced a remarkable surge, surpassing $41,000 for the first time in 19 months. 
Bitcoin’s resurgence above the $40,000 mark, a level last seen in April 2022, was accompanied by a rapid 2% increase over a 24-hour period. 
This surge marked a 19-month high for the cryptocurrency, bringing its year-to-date gains to an astonishing 140%. 
Markus Thielen, the head of research at Matrixport, has provided optimistic insights into Bitcoin’s future. 
Drawing on historical trends, Thielen predicts that Bitcoin could surpass $60,000 by April of the following year and potentially reach as high as $125,000 by the end of 2024. 
These projections are anchored in the recurring pattern of price surges leading up to Bitcoin halving events, with an anticipated surge of over 200%. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/kyberswaps-treasury-grants-a-decentralized-response-to-48-8-million-security-breach/">KyberSwap’s Treasury Grants: A Decentralized Response to $48.8 Million Security Breach</a> 
Adding to the excitement, there is growing anticipation surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States. 
With 13 bidders vying for approval, including industry giants like BlackRock and Grayscale, all eyes are on the Securities and Exchange Commission (SEC) for a decision. 
Bloomberg’s ETF analysts believe that there is a high likelihood of simultaneous approvals for all pending bids by January 10th. 
Such approvals would mark a new era of institutional involvement in Bitcoin and potentially provide a significant boost to its price. 
Bitcoin analyst Willy Woo expressed his optimism by comparing the situation to the launch of the first commodity ETF, SPDR Gold Trust, which led to an eight-year rally in gold prices from 2005 to 2012. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <a href="https://imperium-comms.com/crypto-promo/"><img loading="lazy" decoding="async" width="336" height="280" src="https://cryptointelligence.b-cdn.net/wp-content/uploads/2023/11/imperium_comms_336x280.png" alt="" class="wp-image-8665" srcset="https://cryptointelligence.b-cdn.net/wp-content/uploads/2023/11/imperium_comms_336x280.png 336w, https://cryptointelligence.b-cdn.net/wp-content/uploads/2023/11/imperium_comms_336x280-300x250.png 300w" sizes="(max-width: 336px) 100vw, 336px"></a>
 </figure>
</div> 
This historical precedent suggests that Bitcoin’s recent climb above $40,000 reflects a bullish sentiment driven by the imminent approval of a spot Bitcoin ETF in January and the potential for broader regulatory advancements. 
Additionally, Bitcoin’s upcoming halving event is expected to provide further upward momentum for its price over the next five months. 
Overall, both gold and Bitcoin are riding high, with investors closely watching their upward trajectories. 
<a href="https://www.cryptointelligence.co.uk/crypto-intelligence-blockchain-council/">Discover the Crypto Intelligence Blockchain Council</a>

Gold and Bitcoin Soar to New Heights, Setting Records in Financial Markets

Crypto Intelligence

Other articles published on Dec 4, 2023

SEC-Ripple Lawsuit Was Much Bigger Than Just XRP, Argues John Deaton

U.S. Space Force Member Lowery Notices Bitcoin for Cyber Defense

Space Force Major Sees Bitcoin as a Way To Enhance Cybersecurity

Rebel Satoshi draws Dogecoin holders

Bitcoin Bulls Crush Shorts: $181 Million Wiped After Crypto Rally

Robert Kiyosaki Slams Biden While Urging Bitcoin Buying Amid Geopolitical Turmoil

Join our free newsletter for daily crypto updates!