Summary
- Digital asset manager Charles Edwards predicted that Bitcoin (BTC) will reach new highs following Gold.
- He stated that about three months after a trend change in gold prices, Bitcoin showed similar movements.
- Currently, as gold continues to reach new highs, BTC is also likely to show the same trend.
According to Cointelegraph, a cryptocurrency-focused media outlet, on the 11th (local time), digital asset manager Charles Edwards predicted that "Bitcoin (BTC) will reach new highs following gold."
He explained, "Recently, gold prices have reached all-time highs," and "when comparing the past movements of gold prices and Bitcoin, Bitcoin tended to follow gold's new trend approximately three months later."
Furthermore, he added, "Currently, gold is continuously reaching new highs, and BTC is likely to show the same trend."
Meanwhile, BTC is trading at $96,960.58, down 0.14% from the previous day, as of 00:46 on the 12th, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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