An analyst closely followed is of the opinion that the Bull market of Gold has entered a stage in which the precious metal could go higher for longer.
Pseudonym Dave the Wave tells his 149,500 followers on the social media platform X that gold is at a point in his parabolic rally where the precious metal can easily print 2x profits.
The trader shares a graph suggestion The parabolic increase in that gold began in 2016 and was able to expand until 2028 to a huge price target of $ 7,500.
“Gold comes in its parabolic blow-off stage …”
At the time of writing, gold is worth $ 3,341.
Turning to Bitcoin, the analyst thinks that BTC is next In the bullish footsteps of gold after the Crypto king had resisted $ 90,000.
“BTC shows strength in uncertain markets because of its function as digital gold, in my opinion.”
At the time of writing, Bitcoin acts for $ 93,559, an increase of more than 7% in the last 24 hours.
Other market analysts are also bullish on gold and bitcoin. Adam Kobeissi, the founder and editor-in-chief of the Kobeissi letter, out That both BTC and gold rise higher as market participants rush to seek shelter in safe port activa.
“Gold and Bitcoin are now tuned for the first time in months.
Gold has risen by more than 15% since 7 April, while Bitcoin has risen by more than 12%.
Why does this happen?
Markets are in price in the US dollar weakness and more instability.
Bonds are no longer a preferred -safe port. ”
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Generated image: dalle3