Well, apparently things for this December are looking very good, and that is something sensational, I think things are starting to look very good, my goal is for Bitcoin to reach $50k, even the enemies of Bitcoin themselves are recognizing it :
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Gold reaching record highs is more significant than Bitcoin’s performance, says Peter Schiff, emphasizing the precious metal’s recent rally and contrasting it with the cryptocurrency’s challenges.
What Happened: Renowned economist and cryptocurrency critic Peter Schiff pointed out on X, formerly Twitter, that gold trading above $2,100 for the first time ever is far more noteworthy than Bitcoin trading above $40K. He highlighted that gold has entered uncharted territory while Bitcoin still needs to rally over 60% to reach a new high. Schiff stated, “Gold has completely broken out.”
Schiff noted that gold was in a “fast market” in the same thread.
In another tweet, Schiff also opines, “If gold is this strong with the U.S. dollar flat, imagine how much more it will rise if the dollar starts to fall. The fact that the dollar is not rising with increased geopolitical tension doesn’t bode well for the dollar and is very bullish for gold.”
Why It Matters: At the time of publishing, Bitcoin traded at $40,653.72, having risen nearly 2.9% over a period of 24 hours. The apex cryptocurrency has gained 8.3% over the week and shot up 145.34% since the year began.
Gold prices hit all-time highs on Friday after confidence among traders rose that the Federal Reserve is done with interest rate hikes following comments by Chair Jerome Powell, according to a Reuters report.
Gold COMEX February 2024 futures were seen up 1.1% at $2,113, while spot gold was trading higher by 0.8% at $2,087.79 at the time of publishing.
Source:
https://www.benzinga.com/markets/cryptocurrency/23/12/36062517/peter-schiff-unimpressed-by-bitcoins-40k-move-says-gold-has-completely-broken-out?utm_campaign=partner_feed&utm_source=cryptopanic.com&utm_medium=partner_feed&utm_content=siteand at Coindesk things don't take long to wait:
The move comes days after gold futures reached a record high $2,087 after Federal Reserve chairman Jerome Powell said interest rates are now well into restrictive territory.
"The market is increasingly expecting a rate cut in the coming year and investors are increasingly bullish on the outlook of Bitcoin ETF applications by some of the biggest names in asset management," wrote Lucy Hu, Senior Analyst, Metalpha, in a note. "This is an official statement of a bull run and the price could see more upticks in the coming weeks."
Powell’s comments played into the narrative that the tightening cycle has peaked, pushing bond yields lower.
“Crypto, on the other hand, has been moving nicely higher, along with Gold, on the back of lower yields,” crypto data provider Amberdata said in a newsletter Sunday.
Original Source:
https://www.coindesk.com/markets/2023/12/03/bitcoin-breaks-40k-for-first-time-in-18-months-amid-broader-crypto-market-rise/?utm_medium=referral&utm_source=rss&utm_campaign=headlinesI say that this year bitcoin can reach $50k, we are doing well, very well.