Analysis
August 13, 2024 8:21 PM
Bitcoin may need a few months to rebound and follow gold's bullish trend, according to Charles Edwards, founder of Capriole Investments.
Edwards notes that Bitcoin price action often lags behind gold by approximately three months, suggesting promising future growth for BTC.
While Bitcoin has remained rangebound, gold and U.S. stock indexes have recently hit records.
Despite this, Bitcoin continues to be the best-performing macro asset of 2024, with gold close behind.
Analysts suggest that Bitcoin could see favorable performance into 2025, drawing parallels with gold's price behavior following its ETF launch in 2004.
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