Why Bitcoin's Rally Hasn't Started? What's Awaiting BTC? Analyst Explains!

Bitcoin (BTC) has been stuck between $120,000 and $110,000 for far too ￰0￱ investors are now expecting a major rally, one analyst said that Bitcoin's rally is tied to ￰1￱ is well known, gold has recently broken records, surpassing $3,900. And with the recent surge in traditional markets, gold has surpassed ￰2￱ as digital gold, BTC has been stuck in the $100,000 to $120,000 range for nearly three months after reaching new highs in July and ￰3￱ Morris, Chief Investment Officer of crypto research firm ByteTree, said these movements in gold and Bitcoin follow a ￰4￱ to the analyst, gold and Bitcoin tend to move in rotation: “When gold is bullish, Bitcoin tends to consolidate; when gold is cool, BTC usually continues its upward trend.” Speaking to Coindesk, Charlie Morris said that Bitcoin could start to rise once the current rise in gold ￰5￱ reported observing an alternating strength pattern between gold and Bitcoin over the past two years, noting that between January and April, BTC fell by approximately 30% while gold rose by 28%.

Then, while the price of gold stagnated until August, BTC rallied 60% from its ￰6￱ to this data, Morris stated that although gold has risen for seven consecutive weeks, BTC remains below $120,000, so when the rise in gold slows down, Bitcoin will rise again. “Gold loves low interest rates and a weak economy, while Bitcoin loves a strong ￰7￱ Bitcoin loves a super strong economy, and low interest rates are associated with ￰8￱ the correlation between Bitcoin and gold persists, a pause in the gold price, or even a sideways movement, could signal BTC's next range breakout and another trip to records. “As a result, I think this bullish reversal between Bitcoin and gold will ￰9￱ the good news for Bitcoin is that sooner or later, gold will tire.” *This is not investment ￰10￱ Reading: Why Bitcoin's Rally Hasn't Started?

What's Awaiting BTC? Analyst Explains!