A popular cryptocurrency analyst predicts that gold is on track to reach a significant new level early this year.
Crypto market expert Dave the Wave informed his 154,100 followers on X that gold is currently in a bullish ascending channel and could potentially reach $5,000 in the coming months.
“Gold: shorter-term target still on track.”
As of the current writing, gold is trading at $4,617 per ounce, showing a slight increase for the day.
Dave the Wave also mentioned that Bitcoin might be ready to surpass a crucial resistance level at $94,337, potentially paving the way for the top cryptocurrency to reclaim the $100,000 mark.
“A BTC breakout here would see a $110,000 target on the shorter-term, and back through that psychologically significant six-figure number.”
At the time of writing, Bitcoin is trading at $94,993, marking a 3.4% increase in the last 24 hours.
Meanwhile, Ethereum (ETH) is trading at $3,328, showing a 6.4% increase for the day.
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