The leading cryptocurrency Bitcoin rose above $40,000 after a long time, making investors happy.
At this point, while BTC rose to the level of $ 41,700, there were also significant increases in altcoins.
Apart from the crypto market, record levels were also seen in gold. It is thought that the FED's moderate statements and investors' increasing expectations that the FED will cut interest rates in early 2024 were effective in the rise of the crypto market and gold.
While Bitcoin reached $ 41,000 for the first time since May 2022, gold also saw a record rise and exceeded $ 2,100.
Gold advocate Peter Schiff, known for his hostility towards Bitcoin, commented on the rise in Bitcoin and gold.
Claiming that the rise in gold is more important than the rise in BTC, Peter Schiff pointed out that gold could reach new peaks.
However, according to Schiff, BTC still needs to rise more than 60% to reach new highs.
“Tonight, gold is trading above $2,100 for the first time in history and Bitcoin is trading above $40,000.
However, the fact that gold is traded above $ 2,100 for the first time in history tonight is more important than Bitcoin trading above $ 40,000.
Because the gold is completely broken and is located in an unexplored region. This increases the possibility of new peaks being seen. However, Bitcoin still needs to recover more than 60% to reach a new high.”
#Gold pulling back below $2,100 has provided a catalyst for #Bitcoin to spike near $41K. This could be Bitcoin's swan song. The speculative frenzy around spot Bitcoin ETFs will end soon. Bitcoin's collapse will be more spectacular than its rally. In contrast gold's rally is real.
— Peter Schiff (@PeterSchiff) December 4, 2023
*This is not investment advice.
