Analysts are observing a significant shift in the Bitcoin-to-gold ratio, which may indicate a market bottom for Bitcoin. Frank Fetter of Vibes Capital Management pointed out an oversold signal in the short-term holder MVRV Bollinger bands, a pattern that has historically preceded Bitcoin price increases. This marks the third occurrence of such a signal.
Additionally, JP Morgan's Nikolaos Panigirtzoglou highlighted that Bitcoin appears undervalued compared to gold, projecting a potential price of $165,000 by 2025. Analysts are recommending a 'Sell Gold, Buy Bitcoin' strategy, drawing parallels to market conditions seen in 2020.
Bitcoin-to-Gold Ratio Indicates Possible Market Bottom, Analysts Suggest
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