dailyhodl.com
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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