Gold (XAUUSD:CUR) and bitcoin (BTC-USD) still have more upside potential, analysts said Wednesday at Seeking Alpha’s Election 2024 Investing Forum on Wednesday, on the premise that investors will continue to price in a combination of geopolitical risks and de-dollarization.

Bitcoin (BTC-USD), which is often referred to as digital gold, has outpaced the precious metal this year by neatly 3x, with BTC up ~63% vs. gold's (XAUUSD:CUR) ~22% climb.

The price action in bitcoin (BTC-USD) has been "very bullish," said Ryan Wilday, investing group leader of Crypto Waves. The token is hovering just below its all-time high of $73.8K, as analysts point to strengthening odds for BTC supporter, Donald Trump, to be re-elected next week as U.S. president.

No matter who wins the election, Wilday sees bitcoin (BTC-USD) shooting up to the $100K mark. He opined that investors should hold "at least a little bit" of BTC in their investment portfolios, depending on their overall risk tolerance.

SA analyst Florian Grummes, managing director at Midas Touch Consulting, also said he's "very bullish" on bitcoin (BTC-USD) contending it will break out to new record highs and eventually hit $100K. He also favors solana (SOL-USD), which he noted "has a very good chance to go up to at least $1K within this cycle," citing a "dramatically good" risk-reward profile.

He's optimistic about gold's (XAUUSD:CUR) prospects, too, though "it's overbought, so I think the upside is probably limited." Even so, he thinks gold can hit $3K over the near-term, and potentially $3.5K by the spring of next year.

The core concept behind owning gold (XAUUSD:CUR), he said, is to remain outside the financial system, which consists of a "huge derivatives bubble." That's why owning physical gold bars is the best form of exposure, because "it will always be money, it will always be liquid, and you can always get back in the system if needed."

Silver (XAGUSD:CUR), which also has recorded strong price gains this year, still has a lot of catching up to do relative to gold (XAUUSD:CUR), Grummes said. He thinks $50 is a reasonable price target in the current bull run. In the very long-run, he added, silver could see $100+.

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