Crypto News – Silver vs Bitcoin: 93K Dollars Threshold for Crypto to Overtake Precious Metal

Silver vs Bitcoin: Bitcoin’s $93K Goal Shakes Commodity Markets

Crypto News- In a surprising turn of events, silver has mounted a significant comeback against Bitcoin this year, reclaiming its status as the eighth-largest asset by market capitalization.

Silver’s Resurgence: A 33.4% Rally

Since Bitcoin reached its all-time high of $73,737 on March 14, silver has surged by an impressive 33.4%, while Bitcoin has retraced by 9.5%, according to CoinGecko data.

Market Cap Battle: Silver Takes the Lead

With a market cap of $1.83 trillion, silver now surpasses Bitcoin by $500 billion, as Bitcoin’s market cap stands at $1.31 trillion. To reclaim its position, Bitcoin would need to rally by 40% to $93,000.

Gold Holds Strong: A 22.4% Increase

Not to be overshadowed, gold has also seen a significant increase of 22.4% since February 13, boasting a market cap of $16.4 trillion.

Expert Insights: Predictions Split

Experts are divided on Bitcoin’s future trajectory post its March high. Some, like analyst Dylan LeClair, note historical patterns, while others, like Mike Novogratz, anticipate a consolidation phase.

Bullish Predictions: Bitcoin’s Potential Soars

While Novogratz sees Bitcoin hovering between $55,000 and $75,000, analysts at Bitfinex predict a staggering $150,000 valuation within the next 12 months.

Driving Factors: ETFs and Post-Halving Effects

Many attribute these high predictions to the introduction of spot Bitcoin ETFs and the post-halving effect.

Market Sentiment: Greed on the Rise

With a market sentiment score of 70 out of 100, Bitcoin currently sits in the “Greed” zone on the Crypto Fear and Greed Index.

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