Source: GlassnodeGlassnode said that gold and BTC are “increasingly entering the centre stage as global neutral reserve assets.”In terms of the BTC price drawdown, analysts stressed the fact that by historical standards, the dip versus all-time highs remains modest at around 30%.“In prior macroeconomic events like last week, Bitcoin has typically experienced greater than -50% sell-offs in such events, which highlights a degree of robustness of modern investor sentiment towards the asset during unfavourable conditions,” it wrote, referring to the ongoing US-China trade war.
Related: Can 3-month Bitcoin RSI highs counter bearish BTC price 'seasonality? '“Amidst this turmoil, the performance of hard assets remains remarkably impressive,” it summarized in the latest edition of its regular newsletter, “The Week Onchain,” published on April 16. “Gold continues to surge higher, having reached a new ATH of $3,300, as investors flee to the traditional safe haven asset.
Bitcoin (BTC) has a new gold-inspired $155,000 target, as analysis describes both assets as “remarkably impressive.”In a post on X on April 16, popular trading and analytics account Cryptollica predicted BTC/USD copying gold to hit new all-time highs next.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin gold copycat move may top $150K as BTC stays 'impressive'" has 458 words across 19 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin gold copycat move may top $150K as BTC stays 'impressive'" was covered 2 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 16 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
