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    Bitcoin’s Ascent to $93,500 Raises Speculations on Outperforming Major Assets Like S&P 500 and Gold

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    HI Why 'extreme' gold net longs can also push Bitcoin price to new highs in 2021, B-man

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    Bitcoin has not yet surpassed major assets such as the S&P 500 and gold, despite hitting $93,500 in late 2021. However, Caleb Franzen from Cubic Analytics predicts it is a matter of ‘when’ not ‘if’ Bitcoin outperforms these. Bitcoin’s value has fluctuated, but it continues to set new records. Despite some traders predicting a price slump, others like Charles Edwards from Capriole Investments anticipate a “rapid repricing”. However, potential investors are reminded of the risks associated with Bitcoin.

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    Bitcoin hasn’t yet hit its all-time highs against big players like the S&P 500 and gold. But according to Caleb Franzen, a finance whiz who created Cubic Analytics, it’s not a matter of ‘if’ Bitcoin will outpace these giants, but ‘when’.

    Bitcoin was on fire in late 2021, hitting a staggering $93,500 and seeing a nearly 50% growth in the last quarter. But it still hasn’t managed to overtake certain major assets, like the S&P 500 and Nasdaq 100 indexes. In fact, even the NYSE FANG+ tech stock index and gold are still outperforming Bitcoin. But Franzen is confident that it’s only a matter of time before Bitcoin leaves these in the dust.

    In the USA, Bitcoin really started to make waves in early 2021. It even climbed to record-breaking highs of $69,000, a record that has lasted for over two years. Sure, the dollar value of Bitcoin has had its ups and downs, but it’s still working on setting new records in the world of big assets.

    Last week, news broke that Bitcoin was starting to close in on gold, which got a head start in hitting all-time dollar highs. At the time, Charles Edwards, a big-wig at digital asset fund Capriole Investments, reckoned that Bitcoin was due a “rapid repricing”. He even shared a chart showing how gold broke out in the 2000s after years of not hitting its all-time high from 1980. He thinks Bitcoin could be about to do the same thing.

    But not everyone’s on board with this bullish outlook. Some Bitcoin traders are warning that Bitcoin’s price could slump to $72,000. A well-known but controversial Bitcoin trader, Il Capo of Crypto, recently hinted at an unexpected event causing a potential crash.

    Remember, investing in Bitcoin (and any other asset, for that matter) carries risks. It’s super important to do your own research before committing your hard-earned cash.

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