BTC in gold...
With PAXG around $4,500, the real ATH of Bitcoin measured in gold projects BTC to the region of $184,000.
This is the figure to watch.
In gold terms, it has not yet reached a historical high (ATH).
While gold has already broken highs, Bitcoin is lagging in real value parity.
Historically, when such a gap exists, the adjustment doesn't come from gold falling — it comes from Bitcoin rising...
Therefore, the correct target is not the last nominal ATH in USD.
The target is the ATH in gold.
If Bitcoin just aligns with gold, we're already talking about something close to $180,000–190,000.
$BTC $PAXG #athbitcoin