Gold has a chance to charge ahead of bitcoin at current levels, according to Wolfe Research.
Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. The yellow metal and its digital counterpart have been trading in tandem with each other for the past month, with both reaching new records even as the stock market trades near its highs. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback.
1 1M mountain Bitcoin and gold have been rallying alongside each other this month, even with stocks reaching new highs "The similarities to that time frame are undeniable, but does the same fate await it? While we definitely aren't calling for a 50% correction like we saw then, it would not shock us to see bitcoin continue to stall out north of $70,000," he added. Gold may fare better, however. "The gold vs.
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