[Analysis] Bitcoin Value Against Gold Hits All-Time High… "Bitcoin's Upward Potential↑"
Minseung Kang
Summary
- Bitcoin (BTC) has reached an all-time high in value against Gold, indicating a long-term bullish trend.
- Renowned trader Peter Brandt analyzed that if the Bitcoin/Gold indicator continues to rise, there is considerable room for further increase.
- Cathie Wood, CEO of Ark Invest, stated that Bitcoin's market cap is low compared to Gold, indicating significant growth potential.
The value of Bitcoin (BTC) against Gold has reached an all-time high, suggesting a long-term bullish trend.
According to Cointelegraph, a renowned cryptocurrency media outlet, famous cryptocurrency trader Peter Brandt stated, "The Bitcoin/Gold indicator recently approached 40, setting a new all-time high," and analyzed, "If this indicator continues to rise, it could reach 89."
On this day, Gold is trading at $2,650. Based on the current Gold price, Bitcoin is expected to rise further to $235,000.
Cathie Wood, CEO of Ark Invest, said, "While Gold's market cap is $15 trillion, Bitcoin's market cap is only $2.1 trillion," and added, "Bitcoin has significant growth potential."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
