Analyst: Precious metals trading is heating up... investors will move to Bitcoin

With precious metals hitting record highs this year, Bitcoin has emerged as a relatively undervalued asset, and an analysis has shown that it is likely to enter a bull market in the fourth quarter.
On the 9th (local time), Cointelegraph reported that gold and silver prices have surged in response to the falling value of the US dollar, with gold hitting $4,000 per ounce and silver hitting 50 per ounce for the first time in 45 years.
However, experts said that the precious metals rally is gradually reaching its limits as investors move towards alternative stores of value assets such as Bitcoin and tokenized real assets.
"The likelihood of this happening is increasing," said Nick Packlin, founder of Coin Bureau.
Puckrin said gold prices are expected to rise by more than 50% this year, with Goldman Sachs predicting they will reach $100,000 per ounce by the end of 2026.
He pointed out that he predicted a price of $4,900, and analyzed that "the gold market is already overheated." He continued, "Now that gold has risen by more than 50% since the beginning of the year, the market is interested in other assets with similar characteristics.
"This could include other metals and raw materials, tokenized real-asset products, and Bitcoin, which remains undervalued relative to gold," he added.
“All of these assets act as hedges against fiat inflation and geopolitical uncertainty,” Packlin explained.
Bitcoin hit a record high of over $126,000 in October, coinciding with a surge in precious metals prices.
Investors are losing faith in the dollar, which is on track to post its worst annual performance since 1973.
"The dollar has fallen more than 10% since the start of the year, making it its worst year since 1973. Since 2000, the dollar's purchasing power has fallen by 40%," the letter said.
They analyzed that the fall in the value of the dollar is causing an unusual phenomenon in which "store of value assets" and "risk assets" are rising at the same time.
When assets fall, safe haven assets like gold and Bitcoin rise, but now both asset groups are rising at the same time. The Kobeisi Letter said, "This is a sign that investors are entering a new era of monetary policy."
"This means that assets are being revalued to reflect the effects of inflation," he said. "In an environment where inflation takes hold and governments fund their budgets by devaluing their currencies, all asset prices could rise in tandem."
He predicted: