Listen up, you’re probably wondering when Bitcoin’s gonna make its next big move. Well, Chris Kuiper, the director of research at Fidelity’s digital assets unit, has some thoughts on that.
He says Bitcoin and gold are like two old friends, driven by the same market forces, liquidity and inflation expectations. Bitcoin’s been lagging behind gold lately, and Kuiper thinks he knows why.
Gold vs Bitcoin, here we go again
Let’s take a step back. Remember when gold surged nearly 70% between 2019 and 2020? Bitcoin followed suit, rallying over 100% after gold peaked.
But Kuiper doesn’t think that’s gonna happen this time around. Why? Well, gold’s like the established kid on the block.
It’s where the big players go to sniff out market trends first. Bitcoin, on the other hand, is more of a retail game.
It’s where the little guys come to play, and it tends to have those final euphoric bull runs that make headlines.
Correlation?
Now, you might be thinking, what about Jurrien Timmer, the director of global macro at Fidelity? He said gold and Bitcoin are on the same team.
Yeah, that’s true, but here’s the catch, they might be teammates, but they’re not always synchronized. Gold’s like the seasoned pro, while Bitcoin’s still the new kid trying to prove itself.
Long term thinking
So, what does it all mean for us? It means Bitcoin’s turn might still be coming, but it’s not here yet. Kuiper’s not saying it won’t happen, he’s just saying we gotta wait and see.
And if you’re thinking about jumping into the Bitcoin game, you might want to take a deep breath and remember, patience is a virtue, especially in crypto.
In the end, it’s not just about Bitcoin or gold, but it’s about understanding the game. And if you’re gonna play, you gotta know the rules. So, sit back, relax, and let the market do its thing. Your turn will come.
Have you read it yet? The people have spoken, delisting vote is coming on Binance
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
