"Gold prices, record rise hits limits"…Will it affect Bitcoin?

There are opinions that gold, which has continued its upward trend throughout this year, has reached a peak.

On the 7th, according to Cryptodnis, famous macroeconomist Henrik Jeberg warned, "The rise in gold prices has reached the final stage of a bull market that has entered maturity," adding, "a divergence between price and momentum may occur." He went on to analyze, "The current rise in gold prices is very likely unable to continue," and, "the upward momentum is weakening, and even a small change in positions could have a large impact."

Gold has recorded an annual 60% increase to 4198 dollars this year due to large-scale gold purchases by central banks and a preference for safe assets, but it cannot be guaranteed that the upward trend will continue. Jeberg explained, "The current rise in gold can no longer support concerns about inflation or macroeconomic instability," and, "gold prices have reached a peak."

It is being watched whether the direction of gold prices will affect Bitcoin (BTC), the leading virtual asset (cryptocurrency).

Bitcoin has shown a high correlation with gold. Typically, when gold reaches an all-time high, Bitcoin follows.