CandleFocus Bitcoin Isn't at a Record Like Gold and S&P 500, but an Overlooked Catalyst Suggests a Coming Change
2024-10-18
Author: Content Editor
The price of gold and the S&P 500 reached new all-time highs, while bitcoin remains below its record high from seven months ago. However, bitcoin has outperformed gold and the S&P 500 with an 8% rally this week. One reason for bitcoin's sluggishness could be the rapid increase in price earlier this year, along with forced sell pressure in the market. Despite this, there are signs of accumulation from smaller and larger investors. The outlook for bitcoin reaching new all-time highs is positive, especially considering the potential for rate cuts from central banks and the weakening trend of the Japanese yen.
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