Bitcoin

Gold

Jan Happel and Yann Allemann, co-founders of the on-chain data analytics platform Glassnode, continue to expect a rise in the largest cryptocurrency <a href="https://en.coin-turk.com/bitcoin-halving-what-investors-should-know/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/why-is-the-bear-market-taking-so-long-insights-from-michaal-van-de-poppe/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>). While the leading duo of the cryptocurrency sector expects a rise of over 400% in BTC, they also stated that an altcoin season could be on the horizon.
<h2 style="text-align: justify" id="strong-bitcoin-strong-rising-trend-in-the-gold-ratio-strong">Bitcoin – Strong Rising Trend in the Gold Ratio</h2>
Jan Happel and Yann Allemann, co-founders of Glassnode who use the username Negentropic on the leading <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">social media</a> platform X, stated that the gold – Bitcoin ratio has “started to rise” and is currently moving in a rising trend.
The altcoin-Bitcoin ratio, highlighted by Happel and Allemann, is currently at 18.8 and the ratio represents the value of Bitcoin compared to the price of gold. According to the co-founders of Glassnode, the gold-Bitcoin ratio can rise to a three-digit level:
<blockquote>
 We can see that the gold – Bitcoin ratio reaches levels higher than 100, which means that one BTC will be worth 100 times more than an ounce of gold. A major risk move may be coming.
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-280521" src="https://coin-turk.com/wp-content/uploads/2023/11/Bitcoin-Altin-Orani.jpeg" alt="" width="2536" height="1202">
While Bitcoin is trading at $37,487 at the time of writing this article, an ounce of gold is at $1993. If Happel and Allemann’s prediction of BTC being worth 100 times the value of an ounce of gold comes true, the price of Bitcoin could rise to $199,300. This corresponds to a massive increase rate of approximately 432% based on current prices.
<h2 style="text-align: justify" id="strong-altcoin-season-may-be-on-the-horizon-according-to-the-pair-strong">Altcoin Season May Be on the Horizon According to the Pair</h2>
Meanwhile, the co-founders of Glassnode also analyzed the overall altcoin market. According to Happel and Allemann, the Bitcoin-altcoin cycle indicator reaching 85 suggests that an altcoin season is on the horizon.
<img decoding="async" class="aligncenter size-full wp-image-280524" src="https://coin-turk.com/wp-content/uploads/2023/11/Bitcoin-Altcoin-Sezonu-scaled.jpeg" alt="" width="2560" height="1638">
The Bitcoin-altcoin cycle indicator shows whether investors prefer altcoins over Bitcoin. A value above 50 for the indicator is considered a signal that Bitcoin is underperforming compared to altcoins and the market may be entering an altcoin season. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-strong-rising-trend-in-the-gold-ratio/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-strong-rising-trend-in-the-gold-ratio/</a>

Bitcoin – Strong Rising Trend in the Gold Ratio

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