Gold continues to reach new heights as Bitcoin’s market dominance surpasses 64. With Bitcoin 
$84,034 steadily rising after its dip to 55 on December 7, it is outpacing altcoins. The Bitcoin market dominance chart elicits both fear and hope among traders. What predictions can be made for gold and cryptocurrencies?
Gold Price Predictions
As global uncertainty intensifies, Fed’s Hammack expresses uncertainty about stock declines and rising interest rates. This uncertainty makes the current situation more palpable.
Today, we will discuss the latest insights from two renowned figures regarding gold before shifting our focus to cryptocurrencies. Peter Brandt, a well-known trader since 1975, shared some rather discouraging thoughts in his recent assessment.
“What happens at major peaks? This was the explosive peak seen in gold in 1980. That peak wasn’t surpassed for 28 years.
It was a fascinating peak worth discussing. At that time, I would periodically converse with my pit broker to place orders. I spoke with him exactly at the moment the peak occurred on February 21, 1980. The market had progressed wildly to that point. He mentioned something peculiar happening at exceedingly high ticks. The volume had completely dried up. There were no offers or trades.
So, what happened? All suppressed demand and short sales dried up. All purchases had been satisfied. Supply and demand were perfectly balanced for a moment. Then, suddenly, supply began to emerge. Upwards. The peak was reached. The limit was locked down for the next four days.”
While I believe we are heading towards a similar scenario today, many financial institutions are now discussing prices of $4,000 to $5,000 per ounce.
In a less frequently updated assessment, the renowned crypto bear market analyst Capo commented on gold;
“We reached $1,500 in gold in 2020 and are likely on track to reach $4,500 by the end of 2025 or into 2026. We do not overlook short-term corrections.
Silver is looking strong, too.”
Will Cryptocurrencies Rise?
Below is the Bitcoin market dominance chart. As BTCD peaks, altcoins are reaching a trough. What do you observe since the last bull markets? Consistently, BTCD is generating green candles, representing the pain altcoins have endured. For the last five months, altcoins have persistently been in the red since the short-term dip on December 7.
What we need to see now is for BTCD, moving toward 70, to peak and then decline, creating room for altcoins to rise. The number and unique weight of altcoins have increased significantly; today’s 64 level should not be viewed the same as the 64 from 2021. This detail offers hope for altcoins.
Poppe stands out with his usual optimism, claiming, “Bitcoin is approaching $85,000 and targeting a breakout. I’m excited. Good things are coming.”
However, current conditions are not excellent, given concerns over a global trade crisis, reminiscent of previous bull markets during global pandemics and supply chain issues.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
