The founder of crypto analytics platform Glassnode predicts that Bitcoin (BTC) will significantly outperform gold for the remainder of the current bull cycle.
The Glassnode co-founder, who goes by the handle “Negentropic” on the social media platform “X”, told his 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: There has been a lot of talk about gold in recent months. But is gold really the asset to invest in at this point? The BTC to gold ratio still suggests that BTC could be 65 times the price of gold at the end of this crypto bull cycle.
This means that BTC is more than 2x outperforming compared to the shiny metal. Pick your favorite. At the moment I would prefer BTC over gold.”
At the time of writing, Bitcoin was trading at $70,547, up 2.5% over the past 24 hours.
Next, analysts suggest that Dogecoin (DOGE) could repeat the pattern seen in the past two bull runs and surge to $2.52. Analysts use Fibonacci extensions, which are based on Fibonacci ratios, used in technical analysis to predict profit targets and price pullbacks.
“Could Alt Season Push DOGE Up by 13x?”
DOGE is trading at $0.17 at the time of writing, up around 3% in the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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