Bitcoin has dipped slightly this week after reaching a new peak, but a strong upward wave is spreading. According to market updates, the coin reached $124,390 before dropping to $114,158 and then slightly rising to $115,285 at the time of writing.

According to reports from a chart analyst named AO, Bitcoin may be following a pattern similar to gold, and this pattern could indicate a rise to $600,000 - an increase of about 420% from the current level.

Experts view the Golden Pattern

AO's vision is based on chart shapes. He compares recent Bitcoin patterns of cune and ascending triangles with the performance of gold over the past decade. According to AO, Bitcoin clustering around $115,000 could facilitate a major breakout.

The AO scenario includes what he calls 'lost legs' and he assumes a figure that could exceed half a million dollars by 2026 if this pattern unfolds as he expects. Reports have mentioned similar geometric comparisons from other followers, although few have provided a specific price target like $600,000.

Market Capitalization If Target is Achieved

Based on those numbers, a price of $600,000 would imply a market value of about $12 trillion.

That figure would push Bitcoin past many major names in the technology sector and bring its value closer to gold than it is now.

BTCUSD is trading at $115,475 on the 24-hour chart: TradingView

According to the same report, this is the idea used to demonstrate that Bitcoin is a significant store of value. The mathematics behind this remarkable figure is quite simple, and the scale of the increase - about 420% from around $115,000 - is what makes this claim notable.

Bullish Case Supported by Some Big Names

Voices from institutions further ignite the debate. Michael Saylor of Strategy, one of Bitcoin's most powerful advocates, continues to assert that this asset will outperform traditional stores of value as more companies adopt it into their balance sheets.

Cathie Wood of Ark Invest has predicted that Bitcoin could eventually reach $1 million, emphasizing the increasing confidence of prominent investors.

Meanwhile, Mexican billionaire Ricardo Salinas Pliego has also expressed the view that Bitcoin could surpass gold's estimated value of around $22 trillion over time.

Signals Can Change the Narrative

Not everyone views price pattern analysis as a forecast. Some analysts warn that comparing chart shapes to gold prices does not guarantee that similar outcomes will occur.

This asset has buyers, liquidity, and various use cases, and to surge strongly to $600,000 may require significant and long-term cash flow into Bitcoin — for example, a large base allocation or a permanent reserve movement — rather than just a short-term spike.

Regulations, interest rates, and other market shocks are real factors that could change any plans.

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