Gold

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoin-price-trends-and-predictions/" data-wpel-link="internal">Bitcoin</a>‘s price, which recently surged to $70,000, has now dropped to $62,900. The exact cause of BTC’s decline is unknown, but it has affected the entire market. Amidst these market changes, an analyst drew attention by comparing BTC with gold.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">A cryptocurrency expert examined the correlation between Bitcoin (BTC) and gold and shared an analysis. The analyst emphasized the potential impact of the precious metal on the next crypto bull run.</p> 
<p style="text-align: justify">Crypto analyst CryptoCon shared a post on July 31, noting that historical bull markets in Bitcoin began during bear markets in gold.</p> 
<p style="text-align: justify">Specifically, Bitcoin’s 2013 bull run coincided with a gold bear market. Similarly, in 2017, Bitcoin’s rise occurred during a gold bear market, and this inverse relationship repeated in 2021.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376196" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-analist-coin-turk-com.png" alt="" width="500" height="296"></p> 
<p style="text-align: justify">CryptoCon’s analysis identified periods of 196 and 213 weeks from a gold bear market to the next significant market movement, reflecting a pattern in the timing of these market changes.</p> 
<h2 style="text-align: justify" id="critical-period-for-bitcoin">Critical Period for Bitcoin</h2> 
<p style="text-align: justify">Since the peak of the last gold bear market in August 2020, 208 weeks have passed. Historical analysis suggests the market is approaching critical levels, indicating a significant change may occur soon.</p> 
<p style="text-align: justify">Accordingly, CryptoCon’s analysis suggests that the upcoming gold bear market could bring a Bitcoin bull run.</p> 
<blockquote> 
 <p>Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> starts where the gold bear market begins. Big change and Bitcoin bull run are imminent.</p> 
</blockquote> 
<p style="text-align: justify">Indeed, Bitcoin and gold have been compared as value preservers over time. Bitcoin advocates believe cryptocurrencies will replace precious metals and be known as ‘digital gold.’</p> 
<p style="text-align: justify">As of today, gold has risen above $2,400 and continues its upward momentum. Notably, gold has gained value due to geopolitical tensions between Israel and Lebanon in the Middle East.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a></h5>
<p>The post <a href="https://en.coin-turk.com/analyst-compares-bitcoin-and-gold-to-highlight-market-trends/" data-wpel-link="internal">Analyst Compares Bitcoin and Gold to Highlight Market Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analyst Compares Bitcoin and Gold to Highlight Market Trends

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