Bitcoin's Correlation with Gold Reaches New Heights

According to PANews, Bitcoin has reestablished its correlation with gold, as both assets recently reached historic highs. Gold has shown a robust price performance, increasing by over 50% this year, outperforming Bitcoin, which has risen approximately 33.5% in the same period. Analysts suggest that although Bitcoin's growth has lagged behind gold, it could experience significant gains by the end of the year if it continues to follow gold's upward trend. However, there is also a possibility of a price correction. Overall, the fourth quarter is expected to be crucial for Bitcoin. David Marcus, co-founder of Lightspark, anticipates that if Bitcoin's value aligns with that of gold, the price of a single Bitcoin could reach $1.3 million, suggesting that surpassing the seven-figure mark is only a matter of time.