The World’s Rushing to Gold—But Bitcoin May Be the Real Winner
While gold hits record highs, analysts suggest its rally may peak soon, potentially shifting capital toward Bitcoin as the next major beneficiary.Summary
Gold prices have surged to a record high, reaching a $30 trillion market cap amid inflation and global uncertainty, leading to physical buying queues worldwide. However, this rally is signaling a potential market top, with analysts like Michaël van de Poppe comparing the current phase to gold's 1979-1980 peak, suggesting a local top within weeks.
Conversely, Bitcoin has been declining, but many analysts believe it is poised to be the main beneficiary once gold's momentum fades. They suggest that increased liquidity, evidenced by rising M2 money supply, will eventually flow from gold into riskier assets like Bitcoin, leading to a significant catch-up rally, with some forecasting prices between $150,000 and $180,000 in Q4.
However, skeptics like Peter Schiff argue that gold is currently outperforming Bitcoin, suggesting a "de-bitcoinization trade" away from the dollar is favoring physical gold, questioning Bitcoin's reputation as "digital gold."
(Source：BeInCrypto)