Recent insights from CNBC’s Market Alert indicate that Bitcoin might experience a significant surge over the next quarter, with historical trends providing context for this potential rise.
Carl Quintanilla, alongside Frank Cappelleri of Cappthesis, examined Bitcoin’s chart to forecast its future trajectory. They identified a recurring pattern of price stabilization followed by upward movement in Bitcoin’s history, suggesting the cryptocurrency could see substantial gains in the upcoming months.
Bitcoin’s Price Trajectory Points to Significant Gains
Quintanilla pointed out that over the past three years, Bitcoin has shown a consistent upward trend. He noted that after periods of price consolidation, there is typically an extension in value.
Cappelleri highlighted that while previous fourth quarters have seen full extensions of these trends, this year could be no different. With historically positive performance expected for Bitcoin in the coming months, he anticipates continued bullish momentum leading to higher prices.
Considering Gold Versus Bitcoin Investments
Quintanilla also presented data comparing gold and Bitcoin over the past year. This analysis revealed patterns where gold often leads with initial movements before being mirrored by Bitcoin’s performance.
Cappelleri explained how at the start of this year both assets moved similarly; however, while gold maintained its ascent as BTC corrected itself. By April though both assets were on par again as gold stabilized and BTC closed their performance gap significantly.
Bitcoin vs Gold ChartCNBC
This pattern repeated when August saw another alignment between them: Gold soared towards new peaks whereas BTC consolidated gains further still—culminating last Friday when it broke $3,900 for first time ever.
The month began positively for bitcoin too closing gaps rapidly. Should history repeat itself investors may consider swapping some holdings from precious metals into cryptocurrencies instead since latter tends rally extensively during such times closing any remaining disparities quickly thereafter;
It should be noted although CNBC didn’t specify exact targets other experts have shared predictions: Michael Saylor believes bitcoin will reach $150,000 by Christmas Day whilst FundStrat’s Tom Lee forecasts even higher levels up around $200,000 mark instead!);