Coinbase Institutional, the research arm of the US crypto exchange, predicts that investors will eagerly buy Bitcoin (BTC) when it dips.
Gold’s Success
Coinbase highlights the success of gold as a safe haven asset amid economic and geopolitical concerns. Both inflation fears and anticipation of interest rate cuts by the Federal Reserve have contributed to gold’s rise.
Bitcoin as Digital Gold
Coinbase believes that Bitcoin’s growing acceptance as “digital gold” will drive aggressive buying during market corrections. Investors may view Bitcoin as a more attractive option than gold in this environment.
Bullish Outlook
Coinbase remains optimistic about Bitcoin’s future, citing demand from spot market ETFs and the upcoming halving event, which will reduce the supply of new BTC. These factors, along with other positive catalysts, support a constructive outlook for Bitcoin in the second quarter of 2023.
