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Bitcoin <> Gold Correlation: Bullish for Bitcoin?

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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:
  • 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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