Head of Technical Analysis at Oppenheimer Says Bitcoin Set to Outrun Gold – Here’s Why

The prices of gold and Bitcoin (BTC) are surging. The precious metal hit an all-time high of above $1,950 an ounce this week, while its digital counterpart surged past $11,000, setting new highs since 2019.

Ari Wald, head of technical analysis at Oppenheimer, says investors may continue to hold on to their gold, but Bitcoin will likely outperform the traditional asset. 

He explains on CNBC’s Trading Nation that the leading cryptocurrency still has more room to rally based on its price history, while gold already hit its highest price this month. Wald also thinks that the king coin is reversing the downtrend since its historical 2017 bullish streak, which set BTC’s all-time high of $19,498.

Robert Kiyosaki shares Wald’s thoughts on Bitcoin and gold. In response to gold investor Dennis Gartman’s announcement that he is moving away from the precious metal, the “Rich Dad Poor Dad” author shares on Twitter where he’s betting his money.

Peter Schiff, CEO of Euro Pacific Capital, disagrees with this theory that Bitcoin will outrun gold.

Schiff, a crypto skeptic who believes that Bitcoin is a Ponzi scheme, predicts that the value of gold will go up as the US dollar continues to decline. 

Featured Image: Shutterstock/Sararwut Jaimassiri

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