Bitcoin is holding up pretty well amid a sharp drop in gold. The previously observed correlation with the precious metal has disappeared.
The outlook for BTC is quite bullish, with Fairlead seeing the upcoming $ 51,000 rally and Bloomberg expecting the next high around $ 100,000.
The published strong economic data on the US trade market contributed to the sharp decline in gold on Monday during the Asian session. Gold fell 4.4% to the lowest mark in the past 4 months.
Bitcoin behaves quite resiliently and is seen as an alternative hedging asset
The positive dynamics observed in BTC over the past few days allows us to speak of a coastal trend and an imminent renewal of the maximum around 50,000.
According to Bloomberg, strong support for Bitcoin and Ethereum in recent months will strengthen the growth of BTC and reach the level of $ 100,000.
A negative factor for the main digital asset may be the tightening of control by the US regulator over the crypto market, namely the deanonymization of cryptocurrency users, as well as an increase in tax collection from this sector. It is very likely that the United States will soon tighten control over cryptocurrencies, which will hold back growth, but this will not stop the bullish trend.
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