Bitcoin has historically outperformed gold, and if gold continues to rise toward $5,000 per ounce, significant gains for Bitcoin could follow. Historical data shows that during prior rallies, Bitcoin's price surged much more than gold's. From March 2020 to March 2022, Bitcoin's price increased approximately 1,110%, compared to gold's 35.5% gain. In the recent November 2022–November 2023 rally, gold gained 25% while Bitcoin jumped nearly 150%. If gold reaches $5,000, which would represent a 50% increase from its current price, analysts suggest Bitcoin could potentially rise to around $285,000. Other opinions, such as those from Frank Holmes, predict Bitcoin may reach between $120,000 and $250,000 in the coming years, depending on various economic factors. He sees a connection between gold's appeal and a potential weakening of the US dollar due to policy changes. Overall, Bitcoin's resilience in the face of market fluctuations may allow it to mirror gold's upward trajectory, especially if certain market conditions improve.

Source 🔗