Comparing Gold and Bitcoin, the US Company Expects a 40-fold Rise in BTC! Here’s Why!

Investors are just days away from the start of 2023. Bitcoin (BTC) and cryptocurrencyHe wonders if the bulls will survive.

Some of the analysts commenting on this issue think that the bear market will end and the rise will come, while others think that the bears will continue to dominate the market and the declines will continue.

Research and trading firm that maintains its optimism about Bitcoin Capriole investmentHe said that he does not expect a drop in the medium to long term, even if BTC is about 80% below its all-time high.

However, the company, which opened a parenthesis here, pointed out that Bitcoin could fall further in the current bear market conditions.

As a reserve asset by 2023 bitcoin Expressing that it believes it will be bright for the future, the company stated that the financial history of the world economy in the last century and especially the USA in 1971 as a reason for this. gold and showed the dollar policy.

Because the USA, which promised to give an ounce of gold to those who brought 35 dollars until 1971, cut the bond of the dollar with gold this year. This caused gold to skyrocket to $400 in 1974.

Capriole, which refers to the US’s gold dollar connection in 1971, is now with gold. bitcoin establishes a connection between

“Gold was much smaller in the 1970s, but with a decade of inflation and high interest rates, it had the capacity to make big moves.

Today, however, Bitcoin is even smaller. In this context, this is one reason why we believe that Bitcoin will do the same with gold and even more in the next decade.”

The company, which continues the gold Bitcoin comparison, BTC’When they looked at the charts of BTC, he said that gold has the potential to repeat the movements of the 1970s.

The company is among these charts of BTC, which has been going on since 2010. cup and handle He also stated that it has a graphic structure.

According to Capriole bitcoin Although it represents only 2.5% of the market cap of gold and the market cap of BTC is smaller than gold, Bitcoin has more growth potential than gold.

because BTC It has a more promising technology compared to gold. For this reason, Capriole met a similar demand for gold in the 1970s. bitcoin Underlining that this may also be the case for BTC, he argued that this demand will lead to a 40-fold increase in price for BTC.

*Not investment advice.