I’ve been diving deep into the relationship between Bitcoin and Gold, and based on my analysis, I’m setting a price target of $100,000 to $105,000 for Bitcoin over the next couple of months.
Why?
The correlation coefficient between
BTCUSD and 
GOLD is 0.84, which indicates a strong, beautiful correlation.
As you can observe in the chart, Bitcoin and gold price movements converge over time, building on the current correlation.
This leaves us with 2 options:
Given the long-term trend and the adoption of Bitcoin by US institutions and the government, I see option B as the most likely to happen. In this case, then, I see Bitcoin getting somewhere close to $105,000 over the next few months. This can mean a 25% uptick in BTC, totally within normal BTC price ranges.
Why?
The correlation coefficient between
BTCUSD and GOLD is 0.84, which indicates a strong, beautiful correlation.As you can observe in the chart, Bitcoin and gold price movements converge over time, building on the current correlation.
This leaves us with 2 options:
- a) Gold price drops to meet the recent BTC decline
- b) BTC rises to meet gold's recent surge 👀
- c) BTC and gold meet in the middle
Given the long-term trend and the adoption of Bitcoin by US institutions and the government, I see option B as the most likely to happen. In this case, then, I see Bitcoin getting somewhere close to $105,000 over the next few months. This can mean a 25% uptick in BTC, totally within normal BTC price ranges.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.