BTC is still rangebound against GOLD. It has moved in between the 10 and 37 on this ratio for the past 5+ years now. The recent drop saw BTC lose -70% of its value relative to gold to the February bottom. If BTC were to catch back up to its highs on the BTC/GOLD ratio it would be trading at ~$170K if the price of gold remained the same.(Daan Crypto Trades)