Opinion: Bitcoin-to-Gold Exchange Rate Drops to 15, BTC Will Enter an Extreme Cost-Effectiveness Zone
BlockBeats News, January 29, analyst Murphy stated that in the current cycle, the bitcoin-to-gold exchange rate has dropped from 41 to 15, while in the previous cycle, the lowest value of this ratio when bitcoin hit the bottom was 9.
The analyst believes that with the current frenzy in the gold market, this value is expected to reappear soon. At some point, capital will inevitably re-evaluate the cost-effectiveness of BTC, and now we are only getting closer to that moment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
September New York Fed Services Index Falls More Than Expected
Precore Gold Finishes Magnetic Survey at its Arikepay Gold Project
Surge Copper Begins Environmental Assessment Process for Berg Copper Project
Electra Battery Materials Gets Preliminary Engineering Results for Initial Phase of Proposed Nickel Refinery
Crypto prices
More
