[Bitcoin breakthrough or black swan? BTC price is $90,000, lack of gold, inventory is high]
Although Bitcoin has yet to reach all-time highs relative to assets such as the S&P 500 and gold, analysts believe it is only a matter of time. On November 15, Cubic Analytics founder Caleb Franzen said that Bitcoin will soon surpass other assets, although it has not yet fully surpassed indicators such as the S&P 500, Nasdaq 100 and gold.
Bitcoin has hit $93,500, up nearly 50% in the fourth quarter, but has yet to fully achieve a breakout compared to many general economic assets. Franzen emphasized that Bitcoin continues to hit all-time highs in value relative to the U.S. dollar, but is still struggling to catch up in terms of overall economic asset performance.
Gold’s movements are seen as a reference for Bitcoin’s potential direction. Charles Edwards, founder of Capriole Investments, predicted that Bitcoin could experience a rapid repricing similar to gold’s 1980 all-time high in the 2000s.
On the other hand, trader Il Capo of Crypto sparked market discussion by suggesting that the market may be facing a black swan event without providing a specific explanation. Trader Credible Crypto believes that Bitcoin may retest to the $50,000 to $72,000 range, especially if it fails to break through $93,800 and stabilize above $100,000.
Overall, Bitcoin still has the potential to reach new highs among overall economic assets, but the market needs to be wary of potential risks and the possibility of a correction.