{"id":575911,"date":"2024-02-20T03:00:40","date_gmt":"2024-02-20T03:00:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=575911"},"modified":"2024-06-11T08:24:00","modified_gmt":"2024-06-11T08:24:00","slug":"bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces\/","title":{"rendered":"Bitcoin’s Golden Projection: Analyst Envisions $600K Price Tag, Assessed In Gold Ounces"},"content":{"rendered":"

Renowned Bitcoin analyst PlanB, known for his stock-to-flow model for BTC, has made a bold prediction<\/a> regarding the future price of BTC. What sets this forecast apart is its evaluation in terms of gold ounces, shedding light on a unique perspective.<\/p>\n

The PlanB Projection: Bitcoin Meteoric Rise<\/h2>\n

According to PlanB’s recent post on X, he foresees a monumental shift<\/a> in Bitcoin’s value, expected to rise significantly in the coming years. Drawing a comparison with gold, PlanB highlighted that currently, one Bitcoin is equivalent to 26 ounces of gold, valuing an ounce of gold at $2,000.<\/p>\n

\n

Bitcoin = 26 ounces of Gold. It would surprise me if BTC would stay below 100 ounces of Gold in 2024\/2025. pic.twitter.com\/IghU4u7gCy<\/a><\/p>\n

\u2014 PlanB (@100trillionUSD) February 19, 2024<\/a><\/p><\/blockquote>\n

Looking ahead to 2024-2025, PlanB predicts that Bitcoin’s price could skyrocket to roughly 100 gold ounces, translating to $200,000 in fiat currency terms.<\/p>\n

Related Reading: 16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What\u2019s Going On?<\/a><\/div>\n

Delving deeper into the charted trajectory, PlanB anticipates Bitcoin to climb to 35 gold ounces ($70,000) by 2024 and surge to 300 gold ounces by 2025. This projection would place Bitcoin’s value at a price target of $600,000, marking a monumental milestone<\/a> in its journey.<\/p>\n

\n

Correct. And more if gold price rises too.<\/p>\n

\u2014 PlanB (@100trillionUSD) February 19, 2024<\/a><\/p><\/blockquote>\n

Bullish Momentum Fuels Bitcoin’s Rise<\/h2>\n

As Bitcoin continues to capture the attention of investors<\/a>, recent weeks have witnessed a notable bullish momentum propelling the cryptocurrency forward. With a surge of more than 20% over this period, Bitcoin has crossed the $1 trillion market cap threshold, accompanied by a trading volume<\/a> hovering above $20 billion in the past week alone.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

This surge in activity has ignited optimism among investors and traders, leading to a significant accumulation of the asset. Notably, Whale Alert data reveals that earlier today a substantial withdrawal of approximately $962.15 million from the leading US crypto exchange, Coinbase, to an undisclosed address, underscoring the heightened interest in Bitcoin.<\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 9,322 #BTC<\/a> (485,247,899 USD) transferred from #Coinbase<\/a> to unknown new wallethttps:\/\/t.co\/AEyqa8qFQ9<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) February 19, 2024<\/a><\/p><\/blockquote>\n

Meanwhile, the Bitcoin open interest has surged to over $24 billion<\/a>, marking a 50% increase since the start of 2024. This surge in open interest, a metric representing the total value of outstanding derivative contracts, signifies heightened market activity and interest in Bitcoin futures and options trading.<\/p>\n

Related Reading: Bitcoin Open Interest Reaches $69,000 ATH Levels, What This Means For Price<\/a><\/div>\n

Notably, this surge in open interest levels has not been witnessed since the peak of Bitcoin’s price in November 2021 when it soared to an all-time high of $69,000.<\/p>\n

\n

JUST IN: #Bitcoin<\/a> futures Open Interest hits highest level since 2021 bull market. \ud83d\udd25 pic.twitter.com\/TseW6AosaN<\/a><\/p>\n

\u2014 Bitcoin Archive (@BTC_Archive) February 19, 2024<\/a><\/p><\/blockquote>\n

This trend has been consistent across various crypto exchanges, with platforms like CME, Binance, and ByBit leading the charge and commanding over 50% of the open interest in the market, according to data<\/a> from Coinglass,<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Renowned Bitcoin analyst PlanB, known for his stock-to-flow model for BTC, has made a bold prediction regarding the future price of BTC. What sets this forecast apart is its evaluation in terms of gold ounces, shedding light on a unique perspective. The PlanB Projection: Bitcoin Meteoric Rise According to PlanB’s recent post on X, he foresees a monumental shift in Bitcoin’s value, expected to rise significantly in the coming years. Drawing a comparison with gold, PlanB highlighted that currently, one Bitcoin is equivalent to 26 ounces of gold, valuing an ounce of gold at $2,000. Bitcoin = 26 ounces of Gold. It would surprise me if BTC would stay below 100 ounces of Gold in 2024\/2025. pic.twitter.com\/IghU4u7gCy \u2014 PlanB (@100trillionUSD) February 19, 2024 Looking ahead to 2024-2025, PlanB predicts that Bitcoin’s price could skyrocket to roughly 100 gold ounces, translating to $200,000 in fiat currency terms. Related Reading: 16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What\u2019s Going On? Delving deeper into the charted trajectory, PlanB anticipates Bitcoin to climb to 35 gold ounces ($70,000) by 2024 and surge to 300 gold ounces by 2025. This projection would place Bitcoin’s value at a price target of $600,000, marking a monumental milestone in its journey. Correct. And more if gold price rises too. \u2014 PlanB (@100trillionUSD) February 19, 2024 Bullish Momentum Fuels Bitcoin’s Rise As Bitcoin continues to capture the attention of investors, recent weeks have witnessed a notable bullish momentum propelling the cryptocurrency forward. With a surge of more than 20% over this period, Bitcoin has crossed the $1 trillion market cap threshold, accompanied by a trading volume hovering above $20 billion in the past week alone. This surge in activity has ignited optimism among investors and traders, leading to a significant accumulation of the asset. Notably, Whale Alert data reveals that earlier today a substantial withdrawal of approximately $962.15 million from the leading US crypto exchange, Coinbase, to an undisclosed address, underscoring the heightened interest in Bitcoin. \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 9,322 #BTC (485,247,899 USD) transferred from #Coinbase to unknown new wallethttps:\/\/t.co\/AEyqa8qFQ9 \u2014 Whale Alert (@whale_alert) February 19, 2024 Meanwhile, the Bitcoin open interest has surged to over $24 billion, marking a 50% increase since the start of 2024. This surge in open interest, a metric representing the total value of outstanding derivative contracts, signifies heightened market activity and interest in Bitcoin futures and options trading. Related Reading: Bitcoin Open Interest Reaches $69,000 ATH Levels, What This Means For Price Notably, this surge in open interest levels has not been witnessed since the peak of Bitcoin’s price in November 2021 when it soared to an all-time high of $69,000. JUST IN: #Bitcoin futures Open Interest hits highest level since 2021 bull market. \ud83d\udd25 pic.twitter.com\/TseW6AosaN \u2014 Bitcoin Archive (@BTC_Archive) February 19, 2024 This trend has been consistent across various crypto exchanges, with platforms like CME, Binance, and ByBit leading the charge and commanding over 50% of the open interest in the market, according to data from Coinglass, Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":517328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,548,1119,78790,6664,26263,49380],"class_list":["post-575911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-forecast","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-planb"],"acf":[],"yoast_head":"\nBitcoin Golden Projection: Analyst Envisions $600K Price Tag, Assessed In Gold Ounces<\/title>\n<meta name=\"description\" content=\"Renowned Bitcoin analyst PlanB, known for his stock-to-flow model for BTC, has made a bold prediction regarding the future price of BTC...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin’s Golden Projection: Analyst Envisions $600K Price Tag, Assessed In Gold Ounces","url":"http:\/\/ktsl888.com\/news\/bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin forecast","btc","btcusdt","crypto","crypto analyst","planb"],"dateCreated":"2024-02-20T03:00:40Z","datePublished":"2024-02-20T03:00:40Z","dateModified":"2024-06-11T08:24:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin’s Golden Projection: Analyst Envisions $600K Price Tag, Assessed In Gold Ounces\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoins-golden-projection-analyst-envisions-600k-price-tag-assessed-in-gold-ounces\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-1.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin forecast\",\"btc\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"planb\"],\"dateCreated\":\"2024-02-20T03:00:40Z\",\"datePublished\":\"2024-02-20T03:00:40Z\",\"dateModified\":\"2024-06-11T08:24:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/575911"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=575911"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/575911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/517328"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=575911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=575911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=575911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}