I have analyzed the strong correlation (0.84!) between the price of Bitcoin and Gold. Historically, the prices of BTC and Gold have moved closely together, creating two possible scenarios: a) Gold is down to capture BTC 🔻 b) BTC rises to match the latest surge in Gold 🔺 Given the ongoing adoption of Bitcoin by institutions and the US government, the scenario (b) feels the most likely. This sets a realistic price target for Bitcoin at around ~$100,000–105,000 in the coming months—about a 25% potential increase 🚀. Thoughts? 👀
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Correlation of Bitcoin & Gold: BTC to $105k? 📈
I have analyzed the strong correlation (0.84!) between the price of Bitcoin and Gold.
Historically, the prices of BTC and Gold have moved closely together, creating two possible scenarios:
a) Gold is down to capture BTC 🔻
b) BTC rises to match the latest surge in Gold 🔺
Given the ongoing adoption of Bitcoin by institutions and the US government, the scenario (b) feels the most likely.
This sets a realistic price target for Bitcoin at around ~$100,000–105,000 in the coming months—about a 25% potential increase 🚀.
Thoughts? 👀