Bitcoin on kulda võrreldes alahinnatud, mis võib viidata potentsiaalsele hinnatõusule: analüütik
-
Bitcoin
BTCUSD
is relatively undervalued compared to gold and the global money supply, which could signal a price reversal, according to Samson Mow, the CEO of Bitcoin technology company Jan3.“Bitcoin is about 24%-66% below its trend relative to gold's market cap or global money supply, while gold is overextended,” Mow said in a Saturday post on X.
Gold futures for April delivery closed Friday at $5,247.90; Tokenized gold PAX Gold USD was trading at the time of writing at $5,404.14.
Mow also cited Bitcoin’s Z-score, a metric that tracks how close the price of BTC is to its historic average. A Z-score of 0 indicates that the price is in line with the average, while a Z-score above 0 indicates that the price is moving above average levels.
A score below 0 signals that the price is trading below the average. When the Z score of the Bitcoin-to-gold ratio drops below -2, Bitcoin has experienced “major” price rallies, Mow said. The Z score of the BTC-to-gold ratio is about -1.24 at the time of writing.Data from TradingView shows that the metric dropped below -3 in November 2022, amid the collapse of crypto exchange FTX and the price of BTC rallied by over 150% over the next 12 months.
Earlier, a similar pattern played out during the Covid crash in March 2020, when the metric fell below -2 and Bitcoin reached a low of about $3,717. Bitcoin surged by over 300% in the following 12 months, and by November 2021, BTC reached what was then the all-time high of about $69,000.Related: Bitcoin traders eye Iran reactions as oil sparks US 5% inflation forecast
Bitcoin to crash to $50,000?
The analysis from Mow is a contrarian view to other analysts, who forecast more pain ahead for the crypto market and a further drop in Bitcoin prices due to investor uncertainty and geopolitical tensions.
The price of BTC may be headed toward $50,000, according to crypto market analysts, who say that price action may be mirroring the 2022 bear market.
Bitcoin fell by over 50% from peak to trough, to a low of $60,000, before staging a limited recovery to current levels of near $66,400 in the wake of this weekend’s developments in the Middle East.
Magazine: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds: Trade Secrets
source: https://www.tradingview.com/news/cointelegraph:90139ab21094b:0-bitcoin-undervalued-relative-to-gold-signals-potential-rally-analyst/
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Registreeri Logi sisse