Bitcoin bulls are on full fire, with prices hitting a high of nearly $90,000. Despite setting a record high in dollar terms, it has not yet reached the top in the macro asset race. Is this rally a prelude to a macro breakthrough or a signal of a hidden crisis in the market?
Bitcoin's competition with gold and the stock market
Financial analyst Caleb Franzen pointed out that although Bitcoin has risen rapidly, it has not yet surpassed the historical performance of assets such as the S&P 500, Nasdaq 100, and gold. He is optimistic that this is not a question of whether it will happen, but a question of when.
Gold, priced in US dollars, hit a new high a few months ago, while Bitcoin is still catching up. Analyst Charles Edwards pointed out that this situation is similar to the breakthrough path of gold in the early 21st century: the price has been hovering below the historical high for a long time, and once it breaks the bottleneck, it will usher in an accelerated market of "rapid repricing".
Comparison reference
Gold’s breakout from its 1980 high set off a multi-year bull run, and Bitcoin may now be on the cusp of a similar trajectory.
What’s next for Bitcoin after $90,000?
Although the market's optimism is gradually heating up, not everyone is on the bullish side. Well-known trader Credible Crypto gave a potential adjustment expectation. He believes that if BTC/USD fails to break through the key resistance at a high of $93,500, the market may experience a deep correction, with $72,000 becoming a potential downside target.
In addition, another analyst who has caused heated discussions, Il Capo of Crypto, used the metaphor of a black swan to suggest that risky assets may face a shock wave. Although this view has not yet been clearly proven, it is enough to stir up market sentiment.
Key points summary: Time and patience are the touchstones for bulls
Long view:
If Bitcoin breaks above $93,500 to $100,000, it could start a “repricing” similar to gold.
Expectations of global easing policies, a potential rate cut cycle by the Federal Reserve, and the strong entry of institutional funds may provide fuel for new highs.
Short Seller Warning:
If the breakout above fails, Bitcoin could retest the $70,000-72,000 area in a bear market.
The market’s sensitivity to macroeconomic fluctuations makes it more vulnerable to black swan events.
Lessons from asset competition:
Compared with gold and technology stocks, Bitcoin still has a lot of room to catch up, and in the long run it still has the potential to become a top global asset.
Investors need to be wary of short-term irrational exuberance while planning for medium- and long-term growth potential.
The road of Bitcoin has never been smooth. It is easy to break through the historical highs, but it is difficult to reach the top of the macro level. In this race against time, patience and judgment will be the biggest winners. Lao Lin's perspective will continue to follow up, so stay tuned!
Uncle Qian has been deeply involved in the cryptocurrency circle for many years, and I know very well how precious and ever-changing market opportunities are. In order to help everyone seize every opportunity in the ever-changing market, Uncle Qian will continue to provide you with the latest market analysis and professional trading strategies.
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