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Title: Predicting the Future Price of Bitcoin based on the Current Gold and Silver Prices
The recent rise in gold and silver prices has sparked interest in using this data to forecast the future price movements of cryptocurrencies, particularly bitcoin. According to Tomasito’s article published on June 20th, it is now possible to anticipate the Bitcoin price from the current gold and silver ratios. This is a groundbreaking discovery that could revolutionize the way we approach cryptocurrency market analysis.
The article states that the global M2 money supply has been rapidly increasing since the COVID-19 pandemic, resulting in a sharp rise in the price of bitcoin. On the other hand, when central banks implement monetary tightening policies to combat inflation, as seen in 2022 and 2023, the price of bitcoin tends to stagnate or decline. This trend is evident from the data.
The author argues that the lack of liquidity has been the primary driver behind the price movements of cryptocurrencies, rather than sentiment or hype. This means that predicting the future price of Bitcoin becomes much more feasible if we can accurately forecast gold and silver prices.
As a result, it appears to be possible to use current gold and silver ratios as an indicator for anticipating the future price movements of bitcoin. With this in mind, we may need to reassess our understanding of market trends and adjust our investment strategies accordingly.
While some may view this method as unconventional, it is clear that there are significant implications for investors and traders who rely on these predictions.
Source: www.bitcoinbazis.hu
