Benjamin Cowen Claims No Metals-to-Crypto Rotation Is Coming — What Would That Mean for Bitcoin?

Key Takeaways

• Benjamin Cowen rejects the thought of a metals-to-crypto rotation.

• Tom Lee remains bullish connected Bitcoin and Ethereum price.

• Bitcoin’s terms continues to look near-term headwinds.

Famed crypto expert Benjamin Cowen caused shockwaves done the manufacture connected Wednesday by dismissing the thought of a rotation from metals into integer assets.

Cowen’s comments propulsion backmost against a increasing communicative among marketplace bulls that the immense gains successful golden and metallic could soon spill implicit into Bitcoin and Ethereum.

In a station connected X, Cowen said investors should not expect superior to rotate from precious metals into crypto, drafting parallels with past marketplace behavior.

“There was nary rotation from BTC to ALTs,” Cowen wrote.

His remarks travel arsenic golden and metallic proceed to station outsized gains.

Peter Schiff, a long-time professional of Bitcoin, said the crypto’s strongest terms occurred earlier it attracted wide organization interest.

In a station connected X, Schiff said Bitcoin delivered its outsized returns during a play erstwhile ownership was limited, but has struggled since being embraced by Wall Street and retail investors alike.

“Bitcoin was the champion performing plus during a clip play erstwhile hardly anyone owned it,” Schiff wrote.

“But ever since Wall Street embraced it and astir radical bought it, it’s been 1 of the worst-performing assets.”

Schiff besides criticized Bitcoin’s show against gold, noting that the crypto has importantly underperformed the precious metallic since its November 2021 peak.

“Since its highest successful November 2021 Bitcoin is present down implicit 50% priced successful gold. Let that descend in,” helium said.

Cowen’s skepticism contrasts with a much optimistic presumption from Fundstrat’s Tom Lee, who said the crisp rally successful precious metals whitethorn beryllium obscuring improving structural trends successful large cryptocurrencies.

In a station connected X connected Monday, Lee said golden and silver’s “parabolic” surge was drafting attraction distant from what helium described arsenic strengthening fundamentals successful Bitcoin and Ethereum.

“The parabolic and continued surge successful golden and metallic is overshadowing inherently strengthening fundamentals of crypto, peculiarly Ethereum and Bitcoin,” Lee said.

Lee added that fiscal institutions are progressively positioning Ethereum arsenic a halfway colony and tokenization layer.

“When fundamentals spell ‘up and to the right,’ it’s lone a substance of clip earlier terms follows,” Lee said.

Despite Bitcoin and Ethereum trading good beneath their all-time highs, Lee has maintained semipermanent bullish forecasts.