Bitcoin Price Prediction as Weekend Trading Volume Pushes Past $10 Billion – Here are Key Levels to Watch
Over the weekend, Bitcoin‘s trading volume surpassed $10 billion, reflecting its robust activity in the market. The cryptocurrency experienced a modest gain of nearly 1.50% on Sunday, with its price reaching $35,228.
The rise in Bitcoin’s value accompanies positive endorsements from industry leaders. Fidelity’s director praised Bitcoin as a modern equivalent of gold with exponential growth potential, while personal finance author Robert Kiyosaki highlighted Bitcoin’s promise for sustained financial security.
These optimistic views come at a time when gold demand from central banks has seen a dip, amid global tensions, casting Bitcoin as a preferable option for investors looking for both stability and potential returns. As the market continues to shift, investors and traders are closely monitoring key Bitcoin price levels.
Jurrien Timmer, Director of Global Macro at Fidelity, has likened Bitcoin to “exponential gold,” highlighting the cryptocurrency’s status as a commodity with the potential to act as a hedge against monetary depreciation and a store of wealth.
He pointed out that historically, times like the 1970s and 2000s, when real rates are negative, there is a lot of inflation, and the money supply is growing at an unsustainable rate, are when gold tends to shine.
Although gold is regarded as money, Timmer noted that it is mostly used as a store of wealth since it is too laborious and deflationary to be used as a means of trade.
One of the reasons that Bitcoin and gold are frequently compared is because they both have this quality.
NEW – $4.5 trillion Fidelity Director of Global Macro says #Bitcoin is "exponential gold."
Read more on cryptonews.com
