Very Important Chart 🚨
About a year ago, I shared this gold/Bitcoin chart, pointing out that when 0.02 Bitcoin equaled 1 ounce of gold, it should be considered the top for Bitcoin; and when 0.11 Bitcoin equaled 1 ounce of gold, it should be considered the bottom! This pattern occurred in both the 2021 Bitcoin top and the 2022 Bitcoin bottom. This year, my analysis has been validated again. I predicted a Bitcoin top at $125,000, corresponding to a gold price of 0.02 Bitcoin equaling 1 ounce of gold! Will we see a Bitcoin bottom again when 0.11 Bitcoin equals 1 ounce of gold?
Let's do the math: 1 Bitcoin = $5,500 (gold price) / 0.11 ≈ $50,000, which matches my prediction of a bottom for this Bitcoin cycle between $50,000 and $60,000. Everything is progressing as expected. If we calculate based on a gold price of $7,000 per ounce, the corresponding Bitcoin bottom is approximately $63,000, which also matches my bottom target price. I believe gold will continue to outperform Bitcoin in the coming months.
This article is for educational purposes only and does not constitute any financial advice.