Analysis: Gold breaks through $3,400, target may be $4,000

According to Matrixport analysis, gold prices have broken through the $3,400 mark, breaking through the resistance levels of the past four months. Long before BlackRock proposed the concept of "digital gold," analysts had already noted the investment value of gold and its correlation with Bitcoin. When the gold allocation recommendation was first made in the summer of 2023, the price was near $2,000. It has now risen to $3,600, achieving a 100% return in two years and is expected to reach $4,000. Gold's continued rise despite a lack of monetary easing suggests that some forward-looking investors are simultaneously allocating to both gold and Bitcoin. Bitcoin is currently in a period of consolidation, but the long-term outlook remains positive.