#BTC🔥🔥🔥🔥🔥

‘More Realistic Than It Sounds’: Analyst Outlines How Bitcoin Could Explode to $500,000 in Current Cycle

A widely followed cryptocurrency analyst and trader is leaning bullish on Bitcoin (BTC) amid the flagship digital asset’s 25% rise over the past month.

The analyst pseudonymously known as Kaleo tells his 697,200 followers on the social media platform X that the prospect of Bitcoin reaching a price of $500,000 during “this bull market is more realistic than it sounds.”

According to Kaleo, the appreciation of over 403% from the current level would come about amid a rally by gold, which Bitcoin has traditionally outperformed.

“The current total market cap for GOLD is $22.6 trillion.

My target for GOLD over the next few years is greater than $8,000 per ounce. This would put it’s market cap over $50 trillion.

Bitcoin currently has a market cap of less than $2 trillion.

Assuming it just performs in step with gold, BTC would hit $250,000. The past several bull markets, BTC has significantly outpaced gold. Assuming it does a 2x vs. gold, it would put one BTC at $500,000 and roughly a $10 trillion market cap.

I really don’t see how this is too insane for the king of the digital asset class.”

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