Bitcoin could outperform gold, equities as year-end seasonality favors risk assets, analyst says
Photo: Crypto Briefing
Gold has declined 7% over the past month, briefly slipping below $4,000 an ounce, while Bitcoin has remained near $80,000. Bitcoin could gain an edge over gold and equities as year-end seasonality supports risk assets, according to Block Scholes research analyst Habib Rahman. Bitcoin’s 90-day correlation with gold has risen to 54%, its highest level in data going back to 2014, while its correlation with US equities has weakened. Over the past month, gold has dropped 7% and briefly traded below $4,000 an ounce, while Bitcoin has held around $80,000, suggesting resilient crypto demand despite the Federal Reserve’s rate hike…
Source: Crypto Briefing
