Bitcoin Beating Gold in 2020
Jean Baptiste Pavageau, partner at quant trading firm ExoAlpha, says bitcoin’s recovery after gyrating $450 on Fed chair Jerome Powell’s comments Thursday continues a larger bullish cycle started earlier in the summer.
“After it’s recent fake breakout above the $12,000 resistance level, bitcoin saw a short-term trend reversal in its broader bullish trend started in June,” said Pavageau. “On the long-term the Fed’s comments are very positive for bitcoin and the crypto markets as a safe heaven because of their limited supply.”
For 2020, bitcoin is up 60% while gold is up almost 30%. Investors often refer to both safe haven assets.
“After it’s recent fake breakout above the $12,000 resistance level, bitcoin saw a short-term trend reversal in its broader bullish trend started in June,” said Pavageau. “On the long-term the Fed’s comments are very positive for bitcoin and the crypto markets as a safe heaven because of their limited supply.”
For 2020, bitcoin is up 60% while gold is up almost 30%. Investors often refer to both safe haven assets.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.