Bitcoin Ready To Outperform Gold by at Least Double for Rest of Market Cycle: Glassnode Founders
The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will vastly outperform gold for the remainder of the current bull cycle.
The co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 63,000 followers that the BTC/gold ratio could more than double in the coming months.
The BTC/gold ratio, currently at 29, is the value of Bitcoin relative to the price of gold.
“Opinion: a lot of talk about gold over the last couple of months. But is gold really the asset to be exposed to at this point? BTC-Gold ratio still suggest that we could see BTC at 65x the price of gold at the end of this crypto bull cycle.
This would imply more than double the performance of BTC compared to the shiny metal. Pick your favorite! We favor BTC over gold at this point.”
Bitcoin is trading for $70,547 at time of writing, up 2.5% in the last 24 hours.
Next up, the analysts suggest Dogecoin (DOGE) could repeat a pattern seen in the prior two bull markets and soar to $2.52. The analysts use Fibonacci extensions, which are based on Fibonacci ratios and are used in technical analysis to estimate profit targets and price pullbacks.
“Could altseason send DOGE up by ~13X?”
DOGE is trading for $0.17 at time of writing, up nearly 3% in the last 24 hours.
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The post Bitcoin Ready To Outperform Gold by at Least Double for Rest of Market Cycle: Glassnode Founders appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
