Analysis: Bitcoin Restores Correlation with Gold, Could See Significant Rise by the End of the Year if It Follows Trend

According to Odaily Planet Daily, Bitcoin has regained its correlation with gold, with both reaching all-time highs recently. 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 a 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 the seven-digit mark is only a matter of time. (Cointelegraph)