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This Bitcoin rally is great and all but we have so much room left to run. Bitcoin currently buys 19.68 ounces of gold, down from 25.39 ounces on November 1, 2024. If gold stays flat at $4,338 and BTC merely recovers that ratio, the implied Bitcoin price is $110,145. If BTC/Gold returns to its December 2024 all-time high of 40.09, the implied Bitcoin price is $173,921. What if gold goes higher? And what if Bitcoin claims a higher ratio? You are not bullish enough: