Gold prices are close to an all-time high of $4,000 due to safe-haven demand, bullish for Bitcoin. Futures hit $4,000 per ounce, spot prices reached $3,976. Gold has surged over 50% in 2022 amid geopolitical tensions and inflation, outperforming Bitcoin’s 33.5% gain.

Analysts believe Bitcoin will outperform gold, as prices react to similar concerns like US deficits and geopolitical hedging. Gold’s all-time high confirms demand for scarce assets, with Bitcoin expected to perform better. The move is a mutual confirmation of both assets reacting to economic uncertainties.

Bitcoin lags behind gold and global money supply, needing adjustment according to analyst James Bull. With gold at new highs, Bitcoin will follow, possibly seeing a correction but a big Q4. BTC resumed correlation with gold, hitting an all-time high over $126,000, catching up to gold’s momentum.

Litespark CEO David Marcus believes Bitcoin could be valued at $1.3 million if like gold, being a better store of value. Bitcoin’s payment utility is not yet priced in, potentially reaching seven figures soon. Marcus sees crossing into seven digits as only a matter of time.

Read more at Cointelegraph: Gold Nears $4,000 Record High, Bitcoin Rally Expected To Follow