If you want to know where gold is going, follow bitcoin, say analysts

(Kitco News) - If gold investors want to know where the precious metal is headed, some market analysts are saying that they should be taking a look at bitcoin. According to some analysts, the investment debate between bitcoin or gold is quickly disappearing as both assets are now reacting to the same motivations: the global currency debasement race.

"I wouldn't call bitcoin the new gold because you can't replace an asset that has for thousands of years been a store of value," said Wells Fargo head of real asset strategy John LaForge. As to how high bitcoin can go, Alex Mashinsky, CEO of Celsius Network, said in an interview with Kitco News that he sees prices at all-time highs next year.

Timeline of Celsius