Paul Tudor Jones Bitcoin Fractal Hints At Possible Explosive Btc Rally

According to Paul Tudor Jones, the price of Bitcoin is set to soar higher in the next few years. The rally can be compared to that of the gold rush during the 1970s, and Bitcoin is still in the early phase of a prolonged rally. Considering this, the price of BTC can see exponential growth in the long run.

Why is the Bitcoin rally similar to the gold rush?

For many reasons, the trend of Bitcoin can be compared to that of gold during the 1970s. As the supply of BTC is limited, it is a good hedge option to counter inflation, and it cannot be devalued like the fiat currency. In this regard, it is similar to gold and becomes a useful asset in times of crisis.

The billionaire Bitcoin investors, Winklevoss twins, said in the month of August 2020 that BTC price could rally up to $500,000, and they made a complete case to support the theory. According to the theory, Bitcoin is better than gold as it does not have any supply shocks. This is probably the only commodity in the world that has a fixed supply, and it cannot be changed by any authority or government in the world.

Comparison between market cap

When you compare the market cap of Bitcoin with gold, there is a huge gap that can be filled in the long run. The currently estimated market cap of gold is around $9 trillion, and when you compare the valuation of Bitcoin, it is just about 4% of gold. In this regard, there is enough potential for growth in Bitcoin, and it can lead to an exponential rally in the long run. A similar move was seen with gold prices since the 1970s, and it has moved up steadily along the decades.

According to several investors who support Bitcoins, the origins of the cryptocurrency gives its strength to grow in this digital market. Even though the market of Bitcoin has evolved into a $330 billion asset, nobody knows the creator Satoshi Nakamoto as he remains anonymous. This shows that the decentralized digital currency cannot be controlled by any authority, and it cannot be manipulated like the fiat currency. However, several governments are trying to impose restrictions on the transactions of cryptocurrency. Even then, they cannot impact the long term growth of Bitcoin or any other cryptocurrency as long as investors believe in the growth of these assets.

 

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