On March 2nd, Samson Mow, CEO of Bitcoin technology company Jan3, stated that compared to gold and the global money supply, Bitcoin’s value is relatively undervalued, which could signal a price reversal. Mow said that Bitcoin’s Z Score relative to gold has dropped to -1.24, indicating that Bitcoin is undervalued by 24%-66%. Historical data shows that after such lows, Bitcoin’s price has rebounded by 150%-300%. (Similar low Z Scores in 2020 and 2022 were followed by significant Bitcoin rallies.) (Cointelegraph)
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Opinion: The relative weakness indicator of Bitcoin compared to gold has reached a critical point, possibly signaling a price reversal for Bitcoin.
On March 2nd, Samson Mow, CEO of Bitcoin technology company Jan3, stated that compared to gold and the global money supply, Bitcoin’s value is relatively undervalued, which could signal a price reversal. Mow said that Bitcoin’s Z Score relative to gold has dropped to -1.24, indicating that Bitcoin is undervalued by 24%-66%. Historical data shows that after such lows, Bitcoin’s price has rebounded by 150%-300%. (Similar low Z Scores in 2020 and 2022 were followed by significant Bitcoin rallies.) (Cointelegraph)