{"id":134424,"date":"2024-07-29T20:30:43","date_gmt":"2024-07-29T17:30:43","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134424"},"modified":"2024-07-29T17:39:20","modified_gmt":"2024-07-29T14:39:20","slug":"bitcoin-and-gold-poised-for-major-price-surge-here-is-why","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-and-gold-poised-for-major-price-surge-here-is-why\/","title":{"rendered":"Bitcoin and Gold Poised for Major Price Surge &#8211; Here is Why"},"content":{"rendered":"<p>Raoul Pal, the founder and CEO of Global Macro Investor, suggested in a July 29 <strong><a href=\"https:\/\/x.com\/RaoulGMI\/status\/1817882655171506443\" target=\"_blank\" rel=\"nofollow\">thread<\/a><\/strong> on X that the onset of \u201cmacro summer\u201d could lead to a <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin price<\/a><\/strong> breakout soon.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Macro Summer in beginning to take hold and should last at least for the rest of 2024 and into 2025.<\/p>\n<p>2 yr yields have formed a large top with a potential objective to 2.5% 1\/ <a href=\"https:\/\/t.co\/4P6xgsAzpX\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/4P6xgsAzpX<\/a><\/p>\n<p>\u2014 Raoul Pal (@RaoulGMI) <a href=\"https:\/\/twitter.com\/RaoulGMI\/status\/1817882648590590409?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He noted that this favorable period could last through the rest of 2024 and into 2025, potentially pushing Bitcoin into what he calls the \u201cBanana Zone,\u201d a phase of significant price increase.<\/p>\n<p>For Bitcoin to confirm its breakout, it needs to close above $70,000, according to Pal and crypto trader Moataz Elsayed, known as \u201cEljaboom.\u201d This would validate the bullish cup and handle formation observed in the charts.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/elon-musk-shares-an-important-message-about-crypto\/\" title=\"Elon Musk Shares an Important Message About Crypto\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/elon-musk-invites-sec-into-battle-over-dogecoin-because-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Elon Musk Shares an Important Message About Crypto<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Additionally, Bitcoin\u2019s open interest hit a new all-time high on July 29, signaling increased investor interest and liquidity that could drive a breakout.<\/p>\n<p>Several factors are contributing to the bullish outlook for Bitcoin: the Nasdaq\u2019s healthy correction, the upcoming US elections, and the potential weakening of the US dollar.<\/p>\n<p>Pal believes these elements could ease financial conditions and support Bitcoin\u2019s rise to a new all-time high, as investors often turn to assets like Bitcoin and gold during periods of currency devaluation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and gold might be poised for a substantial price surge as the macroeconomic environment shows signs of improvement.<\/p>\n","protected":false},"author":3,"featured_media":50841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-134424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin and Gold Poised for Major Price Surge - Here is Why<\/title>\n<meta name=\"description\" content=\"Bitcoin and gold might be poised for a substantial price surge as the macroeconomic environment shows signs of improvement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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