Bitcoin’s next move could crush gold bulls, warns top economist

Bitcoin (BTC) may be on the verge of a powerful rally that could temporarily dethrone gold as investors rotate capital into the largest cryptocurrency, according to economist Henrik Zeberg. His technical analysis suggests the Bitcoin-to-Gold ratio is poised for a parabolic rise before hitting a major top, a move that could leave gold bulls nursing losses in the short term. In an X post on October 27, Zeberg’s analysis noted that Bitcoin’s strength relative to gold is forming an extended Elliott Wave pattern, currently entering what appears to be the fifth and final wave of a multi-year cycle. Bitcoin – Gold ratio chart source: https://finbold.com/bitcoins-next-move-could-crush-gold-bulls-warns-top-economist/