Bitcoin Outperforms Gold, Potential for New Bull Market

Julian Timmer, Director of Global Macro at Fidelity, claims that Bitcoin has an advantage over gold and suggests the possibility of entering a new bull market. Timmer stated that Bitcoin is showing relatively strong price movements compared to gold, and that institutional investor inflows are focusing on Bitcoin. Since 2024, approximately $55 billion has flowed into spot Bitcoin exchange-traded funds (ETFs), while about $29 billion has flowed into gold and silver exchange-traded products (ETPs). Timmer referred to Bitcoin as 'exponential gold,' analyzing that it has a unique advantage over gold due to its finite supply. He believes that Bitcoin can play a significant role in portfolio diversification and has proposed a new portfolio model. Timmer forecasts that Bitcoin could reach $300,000 by 2029 after maintaining a support level of $60,000. Currently, the price movement of Bitcoin seems to depend on whether it can maintain the $80,000 support level and break through the $86,000 resistance level.

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