Bitcoin [BTC] Can Easily Reach The Value Of Gold In The Next 2-3 Years: Analyst

Gold

Bitcoin [BTC] Can Easily Reach The Value Of Gold In The Next 2-3 Years: Analyst

In the next 2-3 years, the total market capitalization of Bitcoin will surpass Gold ‘s as the most valuable coin establishes itself as a preferred store of value thanks to its decreasing inflation and adoption.

This is the view of one analyst who also adds that there is “no other asset to own today” other than BTC.

“Bitcoin can easily reach the value of gold in the next 2-3 years. Few understand this. Never has there been such an easy layup trade. Today, that’s about 500K-600K. This is easy. There is no other asset to own today. Won’t be long before this is obvious to all.”

A 68X Rally for Bitcoin to Usurp Gold

At BTC spot rates, the market capitalization of Bitcoin stands at $118 billion, down several billions when prices tanked from highs of $10,500 recorded in mid-February 2020.

Bitcoin BTC Market Cap and Price
Bitcoin BTC Market Cap and Price

Meanwhile, that of gold is estimated to be worth $8 trillion.

Comparing the two, Bitcoin’s market cap is 68X lower than gold’s, the latter being an established asset used through the centuries as a store of value thanks to its corrosion resistant properties and scarcity.

The yellow metal is also coveted by many and has intrinsic value since it can be used as jewelry. Its demand is perpetually high, garnering the support of many like Peter Schiff, a renowned gold bug.

Still, within a standardized time period, Bitcoin outperforms gold. Bitcoin total supply is fixed and from 2011, gold is down 13%.

Bobby Lee has a $500,000 price tag for Bitcoin

Within this time, BTC rallied and is up 6,000X from 2011’s average price.

Because of this, Bitcoin supporters say, analysts should treat this alternative store-of-value asset fairly:

“Gold is down 13% since 2011 highs. Bitcoin is up *6,000 times+* since early 2011. Bitcoin also outperforms gold in most standardized time periods. Once again, history and standardized performance conveniently ignored. Why not be fair to Bitcoin?”

For Bitcoin to surpass gold, then its price should surge past $440,000 level, a 65X rise at spot market caps.

If this is to happen in the next 2-3 years, BTC may be grossly undervalued and at spot rates, a remarkable opportunity is presenting itself for savvy traders and holders.

This price range is well within Bobby Lee’s predictions.

In his analysis, he expects the flip to happen in the 2020s when each BTC coin in circulation will be worth over $500,000:

Summary
Bitcoin [BTC] Can Easily Reach The Value Of Gold In The Next 2-3 Years: Analyst
Article Name
Bitcoin [BTC] Can Easily Reach The Value Of Gold In The Next 2-3 Years: Analyst
Description
It is the prediction of one analyst that in the next 2-3 years, Bitcoin will usurp Gold. However, this means BTC prices must rise 65X from spot rates.
Author
Publisher Name
CoinGape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Dalmas Ngetich

Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich

Post your comment...
Dalmas Ngetich 236 Articles

Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich

Follow Dalmas @