Analysts have charted a gradual ascent for bitcoin, identifying $112,000 as a pivotal level. Meanwhile, gold enthusiast Peter Schiff reignited the debate between gold and bitcoin by questioning Michael Saylor’s strategy of holding BTC in his company’s reserves.
James van Straten from CoinDesk highlighted that the market dynamics for bitcoin are evolving alongside changes in gold’s valuation.
He anticipates a steady upward trajectory for bitcoin, characterized by incremental gains and occasional 10–20% pullbacks. This pattern mirrors gold’s performance in the early 2000s when prices steadily rose but frequently paused for corrections.
In this context, while bitcoin may sometimes trail behind or surpass gold’s performance, van Straten believes it will ultimately deliver superior returns over an entire cycle.
Michaël van de Poppe emphasized short-term price levels.
He identified areas below $107,000 as potential buying opportunities where investors might enter. He also noted $112,000 as a critical resistance level to overcome. A decisive break above this mark during UTC closes would indicate strength and likely increase risk appetite among investors who might then shift focus to larger altcoins—what he refers to as entering “altcoin mode.”
On another front, Euro Capital CEO Peter Schiff critiqued Michael Saylor’s approach by comparing it with a hypothetical investment in gold instead of bitcoins.
The crux of his argument is liquidity: selling tens of billions worth of gold could be done with minimal market disruption compared to exiting an equivalent position in bitcoins which could severely impact prices and trigger further sell-offs from others following suit.
CoinDesk Research Analysis
Between Sept. 27 at 09:00 UTC and Sept. 28 at 08:00 UTC: According to CoinDesk Research’s technical analysis model, Bitcoin traded within approximately $692 range (~%), fluctuating between $109,156.82 and $109,849.28.
Support was evident around ~$$,,;109,;400 late on Sept...
Resistance capped rebounds near ~$;109,;750 during that same period.
In the final hour:, from (;;07:;;;09);; UTC until (;;08:;;;08);; UTC on Sept.. The price peaked at $;109,;663..84 before settling close around ~&&&&&&&&;;;;;;;;;;;;.580
Read-through: Support exists between &&#59#59##39##59#######4444444444#####575###### Resistance lies near &&#######57##50 A closing above sets up targets ranging ####110-111K Breaking down risks testing lower bounds like &&150 then potentially falling further towards levels suchas8888
<b>Latest Chart Readings
24-hour view (as observed on September ) Price hovers slightly over existing supports underlining possible upside momentum should these barriers hold firm against downward pressures exerted across broader markets globally today…
Monthly outlook indicates compression into narrow bands post-mid highs witnessed earlier weeks back suggests reclaiming key thresholds necessary sustaining bullish sentiment moving forward absent significant external catalysts driving shifts either direction independently without reliance external factors influencing outcomes significantly impacting overall trends longer term basis…
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