Real Vision analyst Jamie Coutts suggests that Bitcoin (BTC) will enter an uptrend after a short-term correction. Coutts believes that Bitcoin has a more positive future compared to gold and predicts that the cryptocurrency will regain its value.
Positive Indicators for Bitcoin
Coutts points out that Bitcoin may enter a significant uptrend after breaking out of the bear flag formation. This situation, which can increase the momentum of the bear market, is considered advantageous for Bitcoin due to the absence of resistance points.
The analyst emphasizes two critical technical indicators that support the upward potential of Bitcoin: funding rate and Relative Strength Index (RSI). The funding rate has reached a balance recently, and the RSI has dropped from overbought levels, giving bullish signals.
Gold Performance Will Lag Behind Bitcoin
According to Coutts’ analysis, gold will demonstrate lower performance compared to cryptocurrencies like Bitcoin in the current market cycle. The adoption of cryptocurrencies as alternative investment tools supports this view.
Coutts anticipates that after reaching an all-time high, some investors may sell off their Bitcoin, but the opening of spot Bitcoin ETFs in the US in January could meet the demand and positively impact the duration of the bear market.
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