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Share link:In this post: One Bitcoin is now more valuable than 1kg of gold as BTC breaches $89k. Analysts believe Bitcoin is just getting started and is still due for more value rallies. The Bitcoin industrial complex recorded $38 billion in daily trading volume, with BTC ETFs and MSTR and COIN stocks attracting record market interest.
The value of one Bitcoin has now surpassed one kilogram (kg) of gold after the flagship digital asset surpassed $85,000. A kg of gold is trading at around $84,000 as the precious metal now trails Bitcoin.
Over the last 24 hours, BTC has increased by more than 10% and has now cemented its position over $89,000. This represents one of its biggest daily gains over the past seven days, leading to speculations that it could hit $100,000 before the month ends.
Bitcoin’s positive performance highlights the unrelenting upward movement of the crypto industry and financial marketers in general since Donald Trump was elected president. Over the last seven days, Bitcoin has increased by 30%, enough to cause the flagship asset to double in value year-to-date.
The flagship asset’s market cap has now reached $1.77 trillion, overtaking silver as the eighth biggest asset and poised to surpass Saudi Aramco, ranked seventh with $1.807 trillion. Many believe it will eventually overtake gold in market cap as well.
Bitcoin could see more growth in 2025
Market experts believe the recent rally is only the tip of the iceberg in terms of future Bitcoin price growth. According to crypto analyst Rekt Capital, the current bull market for Bitcoin might not peak until October 2025.
This prediction is based on a historical analysis of Bitcoin’s halving and the asset’s performance. In 2016, Bitcoin bottomed 547 days before the halving and reached its bull market top 518 days after. The same happened during the 2020 halving when Bitcoin bottomed 517 days before the event and topped 549 days after.
See also Binance and Coinbase record $9.3 billion in stablecoin inflows following Trump’s win
History now looks set to repeat itself, given that Bitcoin reached its lowest price 517 days before the 2024 halving.
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