Lately, there’s been an interesting discussion among analysts. The claim is that Bitcoin’s market bottom could be closer when compared with gold, and after thinking about what that actually means, it seems like a pretty meaningful observation. Historically, gold has long functioned as a store of value, and Bitcoin is trying to play a similar role as well.

The reason these kinds of comparison analyses are coming up is probably that as the market matures, the correlation between cryptocurrencies and traditional assets is becoming clearer. It means that when compared with gold’s historical lows, the extent of Bitcoin’s price decline could reach a certain level. Of course, this is only an analysis and not a definite prediction, but it seems like a useful perspective for understanding market movements.

For reference, many crypto media outlets cover this kind of analysis, and since each publication has its own editorial principles and ethical standards, there are many credible analyses. As Bitcoin’s long-term store-of-value function continues to increase, we can expect comparisons with gold to show up more often as well.