While many in the investment world see gold (NYSE:GLD) and Bitcoin (CRYPTO: BTC) as related assets, Fairlead Strategies’ founder and managing partner, Katie Stockton, offers a contrasting perspective.
In Case You Missed It: During a recent interview on CNBC’s Squawk Box, Stockton highlighted the S&P 500’s impressive year-to-date gain of around 11%, and nearly 30% climb since its lows. She suggests viewing recent dips as healthy corrections, finding support at the 20-day moving average.
Furthermore, Stockton mentioned that gold has broken through resistance levels, potentially offering another 4% upside and acting as a valuable asset for portfolio diversification.
Driven by momentum, some investors are considering gold as a substitute for Bitcoin, largely due to its weak link with equity markets.
Stockton also observed that Treasury yields are approaching a support level near 4%. A breach of this level could initiate a cyclical decline, potentially pushing yields down towards 3.2%.
According to Stockton, fixed income appears relatively robust compared to equities, reinforcing the benefits of diversification.
Related: Analysts Predict Bitcoin Could Reach $140,000 By Year-End
Crypto Market Insights
Stockton noted that Bitcoin is still in a long-term bullish trend, finding a support range between $108,000 and $111,000. However, short-term momentum appears neutral.
While acknowledging that September and October haven’t aligned perfectly with her initial projections, she emphasized the strong connection between Bitcoin and the Nasdaq 100.
Stockton’s target for Bitcoin is $135,000 by early 2026, a more conservative estimate compared to Tom Lee’s prediction of a doubling by year-end.
Ethereum (CRYPTO: ETH) has surpassed $4,000, indicating ongoing technical strength. Similarly, Dogecoin’s (CRYPTO: DOGE) breakout from a triangle pattern mirrors broader positive momentum signals.
Stockton’s investment approach prioritizes respecting uptrends and technical momentum over fundamental analysis, advocating for entering riskier assets at strategic, diversified junctures.
Further Reading:
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This article, Bitcoin Forecasted to Reach $135,000 by Katie Stockton: Not a Gold Equivalent, originally appeared on Benzinga.com
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