Gold prices have come within a few dollars of a milestone all-time high of $4,000 as investors escape to safe-haven assets \u2014 a trend that also looks bullish for Bitcoin.\u00a0<\/p>\n
Prices for futures for gold tapped<\/a> $4,000 per ounce for the first time early on Tuesday morning, while spot prices reached an all-time high of $3,976, according<\/a> to TradingView.<\/p>\n \u201cGold is at a new record high,\u201d observed<\/a> goldbug and Bitcoin critic Peter Schiff on Tuesday. \u201cThis is a clear warning that current Fed policy is wrong,\u201d he added, calling for the US central bank to \u201creverse course immediately,\u201d and raise interest rates.<\/p>\n Gold has had a stellar run this year, surging more than 50% since Jan. 1 amid escalating geopolitical tensions, trade tariff concerns<\/a>, global inflation, and the debasement<\/a> of fiat currencies.\u00a0<\/p>\n It has outperformed Bitcoin (BTC<\/a>) over the same period, with the world\u2019s premier digital asset gaining just 33.5%. However, Bitcoin prices have followed gold, albeit with a lag, which could bode well for a massive end-of-year rally.\u00a0<\/p>\n \u201cGold\u2019s all-time high shows investors\u2019 demand for scarce assets. From here, we believe Bitcoin will be the better-performing asset of the two,\u201d Apollo Capital\u2019s Henrik Andersson told Cointelegraph on Tuesday.\u00a0<\/p>\n \u201cGold hitting $4K is just another confirmation of the same dynamic supporting BTC,\u201d added Justin d\u2019Anethan, head of partnerships at crypto private markets firm Arctic Digital.<\/p>\n Related: <\/strong><\/em>Bitcoin will \u2018blast through\u2019 to its next leg at $150K: Analysts<\/strong><\/em><\/a><\/p>\n The move is more of a \u201cmutual confirmation,\u201d with both assets reacting<\/a> to the same concerns: unchecked US deficits, softening dollar credibility, and rising geopolitical hedging, he said, adding:\u00a0\u00a0<\/p>\n \u201cGold is familiar and deeply rooted in traditional finance setups. Bitcoin moves bigger because it\u2019s available 24\/7, scarcer, and admittedly more forward-looking.\u201d<\/p><\/blockquote>\n Bitcoin is lagging gold and the global M2 money supply, and \u201cshould adjust,\u201d said<\/a> analyst James Bull on X.<\/p>\n Last week, analyst and trader Ted Pillows said<\/a> Bitcoin has been highly correlated with gold<\/a> with an eight-week lag.\u00a0<\/p>\n With gold hitting new highs, Bitcoin will follow, he said, adding, \u201cMaybe we could see another correction, but overall Q4 will be big for Bitcoin.\u201d<\/p>\n Last week, Cointelegraph reported<\/a> that Bitcoin had resumed its correlation with gold, as both were nearing or had reached all-time highs. Bitcoin hit an all-time high of just over $126,000 during late trading on Monday.\u00a0<\/p>\n Litespark co-founder and CEO, and former head of PayPal, David Marcus, compared the two assets, saying<\/a> on Monday that if Bitcoin were valued like gold, it would be worth $1.3 million.\u00a0\u00a0<\/p>\n \u201cIt\u2019s already a better store of value, and its payments utility isn\u2019t priced in yet. Crossing into seven digits is only a matter of time.\u201d<\/p><\/blockquote>\n Magazine: <\/strong><\/em>Bitcoin may move \u2018very quick\u2019 to $150K, altseason doubts: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>\nBitcoins Bitcoin will outperform gold, analysts say<\/h2>\n
Bitcoins Bitcoin\u2019s correlation with gold<\/h2>\n
Bitcoins Bitcoin to seven figures\u00a0<\/h2>\n