Bitcoin 
$76,601 Expert Tuur Demeester suggested that crypto money could go further than expected in its competition with gold as a store of value. Addressing his 282,000 followers on social media platform
Gold Parity and Bitcoin’s Target
Demeester, editor-in-chief of Adamant Research, stated that equality with the market value of gold will create a strong attraction for investors. According to Demeester, Bitcoin’s price could target $300,000. “Gold parity will be like a magnet. Investors will see the $800,000 – $1 million range as the main target for Bitcoin during the bull market. In 2021, $100,000 attracted like a magnet. Reach for the stars, land on the moon; maybe $300,000 – $400,000,” he said.
Demeester also predicts that “Bitcoin fever” will spread among investors, regardless of the price. It indicates that the impact of market dynamics on Bitcoin will also increase.
Additional Perspectives from Peter Brandt
Famous commodity trader Peter Brandt shared a chart showing that the chart between BTC and gold (BTC/XAU) is about to break the 35:1 resistance at the peak of the 2021 bull market. Brandt noted that long-term forecasts point to an XAU value of $6,500 and a BTC value of $850,000.
“Bitcoin or gold? – the race to become the ultimate store of value. The BTC/XAU chart shows a target ratio of 130:1. In the long term, $6,500 points to XAU and $850,000 to BTC,” Brandt added.
Current Market Situation and Expectations
Currently, Bitcoin is trading at around $79,000 and its market cap stands at $1.531 trillion. Analysts say Bitcoin’s market cap and price movements will continue to increase investor interest, and its upside potential is strong in future market cycles. Competition with gold is considered an important driving force for Bitcoin.
Bitcoin’s competition with gold strengthens its likelihood of being accepted as a store of value. Experts predict that Bitcoin may reach higher market values and investor interest will increase. These developments may further strengthen Bitcoin’s position in financial markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
