Bitcoin vs Gold: Metal Hits $30T; Can BTC Close the Gap?

The Bitcoin vs gold battle has long been fascinating investors. Now that gold has made history by crossing the $30 trillion market cap mark, all eyes are on the cryptocurrency's potential movements to see when it will flip the metal.

To put this achievement into perspective, the gold's marketcap is now 14x larger than the coin's $2.1 trillion. However, some analysts believe that capital will rotate into BTC, often referred to as "digital gold," when the value cools. With yellow mineral's price surging 58% over the past year and crypto gaining 56% in the same period, the question on everyone's mind is: can the cryptocurrency catch up?

Bitcoin vs Gold: The Battle Heats Up

The prolonged Bitcoin vs gold battle takes a new turn with the metal becoming the first asset to cross the $30 trillion mark. The official Bitcoin page on X wrote that the yellow mineral has officially become "the first asset in history to hit $30 TRILLION in market cap.”

The cryptocurrency has taken a hit as XAU's marketcap now dwarfs Bitcoin's by a factor of 14. If the coin needs to flip the precious mineral in the future, it needs to exhibit a massive rally, with its price hitting an ambitious $1,525,591. This critical insight is shared by Bitinning founder Kashif Raza on X. He wrote , “If Bitcoin has to flip gold in terms of market cap, then 1 Bitcoin will be valued at: $1,525,591.”

BTC Continues to Dip as XAU Surges

Currently, the crypto industry is experiencing a massive downfall, with top assets like BTC taking the brunt of it. This downturn comes as a continuation of the recent crash on October 11 as a result of the escalating political and geographical pressures.

At present, the cryptocurrency is trading at around $105k, a level significantly lower than the daily high at $111.955. This indicates that the digital asset is on a severe negative track.

Earlier today, CoinGabbar reported that if BTC closes below the 20-day MA at $107, a severe crash is imminent. As analyst Ted pointed out, this plummet signals the crypto’s potential crash to $100k and even $90k. High-profile trader James Wynn also predicted this downtrend, with his targets placed at the $70k-$80k range.

In contrast, XAU is on a positive track, with its price hitting multiple record highs amid economic uncertainty. As of press time, the asset is valued at $4,338.69, marking a 1.13% hike in a day. Over the past 30 days and six months, it has seen more notable uptrends of 18% and 30%, respectively.