Opinion: The relative weakness indicator of Bitcoin compared to gold has reached a critical point, possibly signaling a price reversal for Bitcoin.

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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)

BTC-1.91%
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