Crypto: Lyn Alden Tips Bitcoin Outperforming Gold Over Next ‘two To Three...

Macroeconomist Lyn Alden says gold has a “somewhat euphoric” sentiment around it, while Bitcoin is being treated “somewhat unfairly negative.”

Bitcoin is likely to outperform gold on price performance through to 2029 after gold’s strong recent rally, says macroeconomist Lyn Alden.

“If I had to bet Bitcoin versus gold over the next two to three years, I would bet Bitcoin,” Alden said on the New Era Finance podcast on Wednesday.

“Gun to my head, if I had to say which one I think outperforms, I would say Bitcoin,” she added.

Many crypto industry executives, including Coinbase CEO Brian Armstrong, have predicted that Bitcoin (BTC) will reach $1 million by 2030 with clearer regulations taking shape in the US, which Armstrong called a “bellwether for the rest of the G20.”

Bitcoin is often compared to gold as a hedge against inflation and economic uncertainty, with many investors dubbing it “digital gold.”

Alden said gold is seeing “somewhat euphoric” sentiment after it reached a new all-time high of around $5,608 in January.

“I wouldn’t say it’s a bubble, but it’s somewhat euphoric,” she said.

The JM Bullion gold Fear and Greed Index, which tracks sentiment toward gold, posted a “Greed” score of 72 out of 100 on Friday. On the same day, the Crypto Fear and Greed Index, which measures sentiment across Bitcoin and the broader crypto market, posted an “Extreme Fear” score of 18 out of 100.

Alden said that the sentiment toward Bitcoin is “somewhat unfairly negative.” Bitcoin is trading at $71,164, down 44% from its October all-time high of $126,000, according to CoinMarketCap.

Source: CoinTelegraph