A popular analyst is predicting a huge price jump for gold, suggesting it’s entering a phase of rapid growth.
Gold’s Parabolic Rise
Dave the Wave, a well-known analyst with a large social media following, believes gold is in a parabolic rally that started in 2016. He forecasts this rally could continue until 2028, potentially pushing gold prices as high as $7,500. That’s more than double its current price.
Bitcoin Following Suit?
Dave the Wave also sees Bitcoin mirroring gold’s bullish trend, noting its recent break above a key resistance level. He suggests Bitcoin’s role as “digital gold” is driving its strength in uncertain markets.
Other Experts Agree
Other analysts share this positive outlook. Adam Kobeissi, of The Kobeissi Letter, points to the simultaneous surge in both gold and Bitcoin as investors seek safe havens amid concerns about the US dollar and market instability. He highlights the significant gains in both assets since early April.
The Bottom Line
The prediction of gold reaching $7,500 is a bold one. While several analysts are bullish on both gold and Bitcoin, remember that all investments carry risk. Do your own research before investing in any asset.