Update: Bitcoin’s performance is similar to gold… What is the next expected step for Bitcoin?
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Answer Update: Bitcoin’s performance is similar to gold… What is the next expected step for Bitcoin?
We previously published an article in Bitcoin Arab titled:
Bitcoin’s performance is similar to gold with clear correlation points on the charts
Analyst Ahmed gave his view on the performance of the Bitcoin price and how it was very similar to gold.
It seems that Ahmed’s analysis was very successful, as the price of bitcoin progressed very similarly with gold, which is shown in the following charts comparing gold and bitcoin.
What is the expected next step for Bitcoin?
In the gold chart, the analyst Ahmed sees and presents his technical view on the performance of gold’s behavior and how it reached its peak indicated by the red box in the chart below, during which it reached a new record high, then slowly retraced downwards.
Read:After the significant decline in its value…Can Bitcoin still be considered a safe haven?
By comparing the performance of bitcoin with gold, we see more similarities and congruence, which continued the same behavior that analyst Ahmed indicated in the previous article.
Today, Bitcoin is fluctuating above the $19,000 level.
According to the analyst Ahmed, there is a high probability that Bitcoin will reach its previous historical peak recorded in 2017, which is $19978, then record a new historical peak between $20,000/22,000 and then bounce back down to match its behavior with gold.
To follow the analyst Ahmed:
- on Twitter from Link.
- And on telegram from Link.
Read also:
Read:Will digital and cryptocurrencies and bitcoin become the currencies of the future?
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Why did the price of bitcoin go up? Here are five main reasons
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