Despite reaching new heights in 2022, Bitcoin (BTC) has not yet matched all-time highs against the S&P 500, gold, and other macro assets. However, experts predict that this will happen "a matter of if, not when."
A Post on X Predicts BTC Price Outperformance
On November 15th, Caleb Franzen, creator of financial research resource Cubic Analytics, shared a post on X (formerly Twitter) predicting BTC price outperformance next. According to him, Bitcoin’s price breakout against many macro assets is yet to happen.
Bitcoin vs. S&P 500 and Gold
The S&P 500 and Nasdaq 100 indexes remain unbeaten by Bitcoin. This also applies to the NYSE FANG+ tech stock index and gold. Franzen notes that "just a matter of when, not if" BTC price will break out against these assets.
A Chart from Caleb Franzen
For US stocks, the key moment in Bitcoin’s history was early 2021, even before BTC/USD set all-time highs of $69,000, which remained in place for over two years. Since then, dollar records have fallen multiple times, but Bitcoin is still working on setting new all-time highs across the macro asset spectrum.
Cointelegraph Reports: Market Gaining Ground Against Gold
Last week, Cointelegraph reported that the market was gaining ground against gold, which had a head start of several months in setting new all-time highs in dollar terms. At the time, Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, forecasted a "rapid repricing" now that BTC/USD had broken out.
Charles Edwards Shares Long-Term Chart
Subsequently, Edwards shared a long-term chart of gold’s own breakout in the 2000s after spending 20 years below previous all-time highs from 1980. BTC/USD, he suggested, could now do likewise.
Il Capo of Crypto Implies Crash Across Risk Assets
In a dramatic alternative take, a popular but increasingly infamous Bitcoin trader is now implying that a crash across risk assets is due. On November 15th, Il Capo of Crypto returned to his Telegram channel with a photograph suggesting he expected a black swan event.
Credible Crypto Warns of $72,000 "At Least"
A fellow trader, Credible Crypto, recently called for $50,000 or lower for the pair. In his latest X analysis, he flagged $72,000 as the downside target to watch.
"If we take our highs at 93.8k in a clear, impulsive move that breaks 100k+ then 72k and below is likely gone until the next bear market," Credible Crypto wrote alongside accompanying charts. "If we instead sweep our highs and fail to produce a final, 5th subwave then it implies this move was indeed corrective and makes the odds of us retesting 70-72k AT LEAST exponentially higher."
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Why Bitcoin’s Price Breakout Against Macro Assets Is Yet to Happen
Bitcoin has reached new heights in 2022, but it still hasn’t matched all-time highs against the S&P 500, gold, and other macro assets. Experts predict that this will happen "a matter of if, not when." Caleb Franzen, creator of Cubic Analytics, shared a post on X predicting BTC price outperformance next.
A Chart from Caleb Franzen: Bitcoin vs. S&P 500 and Gold
The chart shows the current situation where the S&P 500 and Nasdaq 100 indexes remain unbeaten by Bitcoin. This also applies to the NYSE FANG+ tech stock index and gold. Franzen notes that "just a matter of when, not if" BTC price will break out against these assets.
Cointelegraph Reports: Market Gaining Ground Against Gold
Last week, Cointelegraph reported that the market was gaining ground against gold, which had a head start of several months in setting new all-time highs in dollar terms. At the time, Charles Edwards forecasted a "rapid repricing" now that BTC/USD had broken out.
Il Capo of Crypto Implies Crash Across Risk Assets
In a dramatic alternative take, Il Capo of Crypto returned to his Telegram channel with a photograph suggesting he expected a black swan event. This has caused some concern among traders and investors.
Credible Crypto Warns of $72,000 "At Least"
Fellow trader Credible Crypto recently called for $50,000 or lower for the pair. In his latest X analysis, he flagged $72,000 as the downside target to watch.
BTC Price Breakout: A Matter of When, Not If
Despite reaching new heights in 2022, Bitcoin’s price breakout against many macro assets is yet to happen. Experts predict that this will happen "a matter of if, not when."
Why the BTC Price Breakout Hasn’t Happened Yet
The key moment in Bitcoin’s history was early 2021, even before BTC/USD set all-time highs of $69,000, which remained in place for over two years. Since then, dollar records have fallen multiple times, but Bitcoin is still working on setting new all-time highs across the macro asset spectrum.
Cointelegraph Reports: Market Gaining Ground Against Gold
Last week, Cointelegraph reported that the market was gaining ground against gold, which had a head start of several months in setting new all-time highs in dollar terms. At the time, Charles Edwards forecasted a "rapid repricing" now that BTC/USD had broken out.
Il Capo of Crypto Implies Crash Across Risk Assets
In a dramatic alternative take, Il Capo of Crypto returned to his Telegram channel with a photograph suggesting he expected a black swan event. This has caused some concern among traders and investors.
Credible Crypto Warns of $72,000 "At Least"
Fellow trader Credible Crypto recently called for $50,000 or lower for the pair. In his latest X analysis, he flagged $72,000 as the downside target to watch.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
