PANews reported on October 7th that, according to Cointelegraph, Bitcoin has regained its correlation with gold, with both recently reaching all-time highs. Gold prices have been strong, rising over 50% year-to-date, outperforming Bitcoin (which has risen approximately 33.5% over the same period). However, analysts believe that although Bitcoin's growth has lagged behind gold's, if it continues to follow the upward trend of gold, it may see a significant increase by the end of the year. While there is still the possibility of a pullback, overall, the fourth quarter will be significant for Bitcoin. Lightspark co-founder David Marcus predicts that if Bitcoin's value is equal to gold, the price of one Bitcoin could reach $1.3 million, and breaking through seven figures is only a matter of time.PANews reported on October 7th that, according to Cointelegraph, Bitcoin has regained its correlation with gold, with both recently reaching all-time highs. Gold prices have been strong, rising over 50% year-to-date, outperforming Bitcoin (which has risen approximately 33.5% over the same period). However, analysts believe that although Bitcoin's growth has lagged behind gold's, if it continues to follow the upward trend of gold, it may see a significant increase by the end of the year. While there is still the possibility of a pullback, overall, the fourth quarter will be significant for Bitcoin. Lightspark co-founder David Marcus predicts that if Bitcoin's value is equal to gold, the price of one Bitcoin could reach $1.3 million, and breaking through seven figures is only a matter of time.
Analysis: Bitcoin has regained its correlation with gold and may follow gold's sharp rise by the end of the year
PANews reported on October 7th that, according to Cointelegraph, Bitcoin has regained its correlation with gold, with both recently reaching all-time highs. Gold prices have been strong, rising over 50% year-to-date, outperforming Bitcoin (which has risen approximately 33.5% over the same period). However, analysts believe that although Bitcoin's growth has lagged behind gold's, if it continues to follow the upward trend of gold, it may see a significant increase by the end of the year. While there is still the possibility of a pullback, overall, the fourth quarter will be significant for Bitcoin. Lightspark co-founder David Marcus predicts that if Bitcoin's value is equal to gold, the price of one Bitcoin could reach $1.3 million, and breaking through seven figures is only a matter of time.
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