He referred to the Gold Chart 2010 to determine what this pattern implies. The two assets exhibit the same setup when Gold’s price crosses the $1,000 resistance level. From that point, Gold’s price has soared as high as $2,672.60, more than double the price at the time.
If this correlation determines the trend, the price of Bitcoin may soar as high as $200,000 in the long term. This projection aligns with numerous bullish calls from market analysts, including Peter Brandt.
MicroStrategy plans to invest $42 billion in the coin in the next few years. This will complement many countries’ growing push for a Bitcoin reserve.
As Bitcoin accumulation intensifies, so does the utility. Earlier, Cardano linked up with BitcoinOS’s Grail Bridge to drive liquidity from BTC to its DeFi ecosystem. This trend helps to fuel the projected growth rally.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
