Bitcoin predictions if it breaks the maximum gold-btc/xu market increases 40 % star-news.press/wp

Bitcoin is trading at $ 115316 today, after it gained 40 % against gold since April. This situation has prompted a new gossip about catching the BTC title to the maximum Gold market 22.58 trillion dollars. Given the maximum current market of $ 2.3 trillion, a leap to $ 22 trillion will be a great achievement, but if that happens, what will be the price of BTC?

Can BTC Price Break Break Gold worth $ 22 trillion?

Bitcoin named “Digital Gold” for years. For this reason, BTC believers believe that it can one day be kidnapped to put gold to become a valuable store. This argument grew only when looking at the gains made by the BTC/Xau ratio.

Since April, Bitcoin has made steps against gold. This appears in the BTC/Xau ratio, which increased by more than 40 %. While this does not appear immediately the face, it indicates that bitcoin acquires some strength against gold.

In order to exceed Bitcoin gold, you will need to break the maximum market of gold $ 22.59 trillion first. With the current supply of about 19.89 million BTC, this means that the price of Bitcoin will need to reach approximately $ 1.2 million per coin.

Therefore, the most obvious answer to the high price of bitcoin that will have to rise to break the maximum Gold market is $ 1,200,000, which is more than ten times the current price. While this may seem like an extension, The analyst B plan has been weightSaying it is possible.

In the X Publication, he argued that the stock ratio to the flow of Bitcoin is about 120 is twice the percentage of gold. This is although gold is 10 times more than Bitcoin. Accordingly, the B plan believes that the BTC price is 10x.

Interestingly, even some gold mines began to look closely at Bitcoin. last month. Coingepe reported that Gold Miner Bluebird was planning to sell gold and buy bitcoin.

Meanwhile, strong gold supporters such as Peter Chef have not resurrected the admitting of the impressive Bitcoin gains over the past two months. Chef recently said that BTC was a better balance to keep it, which is a rare acceptance based on his past.

The short -term BTC forecast in the short term with 3 -week unification

This argument about the extent of BTC’s rise in gold is part of the long -term bitcoin prices that may take years to achieve. However, in the shortest time frame, it is expected to have more pain.

After bitcoin declined today, it came out of the narrow range that was circulated for three weeks. It also decreased less than SMA for 50 days, making the situation less suitable for short -term price movements.

AO tapes are a sign that the bears are not wandering after they fell to the negative side. The BTC price still tests the support support as a resistance, and if it violates, the momentum may continue for the benefit of the upscale merchants.

In short, the bitcoin price has a huge gap to close to reach gold. It may take years, even with their increasing attractiveness among institutions. Meanwhile, before this happens, Bitcoin may face some decline in the coming weeks.

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Welcome

Muthoni Mary is an analyst and writer in the experienced encryption market that has more than three years of experience deciphering Blockchain trends, price movements, and market dynamics. She holds a Bachelor’s degree in (Financial) Trade from Kenyatta University, and mixes the strong academic basis with the sharp eye of technical analysis and a deep understanding of the data on the series. Its work provides clear data -based visions that enable investors to move in the area of advanced digital assets with confidence. When the market does not analyze, Mary has reading and traveling.

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