Bitcoin price would surge past $600K if 'hardest asset' matches gold
The coming decade could be Bitcoin's time to copy gold's 1970s breakouts, says Capriole Investments. Bitcoin (BTC) is due to copy gold’s explosive 1970s breakout as it becomes the world’s “ hardest asset ” in 2024. That was one forecast from the latest edition of the Capriole Newsletter, a financial circular from research and trading firm Capriole Investments. Bitcoin due big moves "and more" in 2020s Despite BTC price action flagging at nearly 80% below its latest all-time high, not everyone is bearish about even its mid-term outlook. While calls for a further drop before BTC/USD finds its new macro bottom remain, Capriole believes that 2023 will be bright for Bitcoin as a reserve asset. The reason, it says, lies in the world economy’s financial history of the past century, and in particular, the United States after the dollar deanchored from gold completely in 1971. Gold, as the world’s premier safe haven of the time, saw “huge” gains during the decade, and fifty ...