Gold Leading Bitcoin, Just Like Last Cycle

Wood explained that Bitcoin’s correlation to gold since 2019 stands at just 0.14, but gold has historically rallied before Bitcoin in previous cycles. She thinks the same pattern is playing out now.

“Bitcoin relative to gold has had a significant drop, but if you look at the longer term, you’ll see higher lows in terms of the very long-term trend line,” Wood said on The Rollup podcast. “The Bitcoin bull market is still intact,” she added.

ARK’s bull case projects Bitcoin reaching $1.5 million by 2030. Wood acknowledged taking flack for saying stablecoins had usurped some of Bitcoin’s role in emerging markets, but noted gold rallying…

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