The year 2023 is starting off better for Bitcoin and the broader crypto market than last year ended. Even though most crypto prices are still trading in a very depressed, narrow range, BTC is at least showing a year-to-date performance of 1.55% and Ethereum of 4.5%.<\/p>\n
However, as QCP Capital writes in its latest market analysis<\/a>, there are early signs that should caution crypto investors. While the gold price is currently performing extremely strongly, the trading firm raises the question of whether this will continue if the expected wave five of the USD rally takes place based on the Elliott wave theory<\/a>.<\/p>\n According to the theory, the fifth wave is the final leg in the direction of the prevailing trend. And a resurgent USD could mean further price losses not only for gold but also Bitcoin and crypto. As QCP Capital elicits, it remains to be seen if this will impact the other alternative asset classes as well.<\/p>\n