{"id":553984,"date":"2023-10-04T03:00:31","date_gmt":"2023-10-04T03:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=553984"},"modified":"2024-06-11T08:04:56","modified_gmt":"2024-06-11T08:04:56","slug":"bitcoin-6x-to-200000-btc-spx-ratio","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-6x-to-200000-btc-spx-ratio\/","title":{"rendered":"Economist Predicts “Monster” Move for Bitcoin: Is A 6X To $200,000 On The Table?"},"content":{"rendered":"

Macro-economist Henrik Zeberg thinks Bitcoin (BTC) and other risk assets are gearing up for a “monster” move, with the trend still in its early stages. Zeberg’s predictions are <\/span>based<\/span><\/a>\u00a0on the BTC\/SPX Ratio, an indicator that compares Bitcoin’s performance to the S&P 500 index (SPX).<\/span><\/p>\n

BTC\/SPX Ratio Says There Is A Monster Move Incoming<\/span><\/h2>\n

Despite recent fluctuations and concerns about the crypto market’s sustainability, Zeberg remains bullish on BTC. In the analyst’s view, the BTC\/SPX Ratio offers strong evidence that the Bitcoin uptrend is “just starting.” Based on price movements, the current leg down in September could provide opportunities for traders to accumulate.<\/span><\/p>\n

The BTC\/SPX Ratio is an indicator that assesses the relative performance of Bitcoin and the stock market. The ratio is derived from dividing the Bitcoin and S&P 500 index (SPX) spot prices.\u00a0<\/span>When it is rising, like it is presently the case, it indicates that Bitcoin is outperforming the stock market. Conversely, a declining ratio suggests that Bitcoin is underperforming. In that case, banking on the stock market could generate better returns than HODLing BTC.<\/span><\/p>\n

Related Reading: Twitter IPO: Dogecoin Takes Center Stage In Elon Musk\u2019s X IPO Rumors<\/a><\/div>\n

From the chart shared on October 3, Zeberg said a “bull” signal was triggered in February 2023, preceding a substantial rally in Bitcoin’s price. By July 2023, Bitcoin had surged to approximately $32,000. While there has been a cooling-off period since then, Bitcoin is trending above February highs at around $25,200, confirming the uptrend.<\/span><\/p>\n

\"Bitcoin
Bitcoin is bullish per the BTC\/SPX Ratio indicator: Source: Henrik Zeberg on X.<\/figcaption><\/figure>\n

Between April 2019 and May 2021, when a similar bull signal was printed, BTC soared by 6X, while the S&P 500 saw a more modest increase of 41%. Zeberg’s assessment, based on the BTC\/SPX Ratio, suggests that Bitcoin–and other risk assets, by extension, can post strong gains in the months ahead.<\/span><\/p>\n

Will Bitcoin Fly To $200,000 This Bull Run?<\/span><\/h2>\n

Whether this will be printed or not can only be speculated. Looking at the BTC\/SPX Ratio, the indicator is lagging and doesn’t precisely capture market peaks or bottoms.\u00a0<\/span><\/p>\n

\"Bitcoin<\/a>
Bitcoin price on October 3| Source: BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

For instance, the last bear signal in May 2021 was months ahead before Bitcoin peaked in November 2021 and fell. Therefore, while the bull signal was recorded in early February 2023, it is unclear whether there will be another leg down before prices rise or bears press on, pushing the coin back to 2022 lows.\u00a0<\/span><\/p>\n

Related Reading: Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels<\/a><\/div>\n

If buyers take control and the BTC\/SPX Ratio indicator is correct, it is impossible to determine how high BTC will rise at current rates. If the last bull run is anything to go by, BTC may surge by 6X. In that case, BTC may rally and push beyond $200,000 in this bull cycle.<\/span><\/p>\n

Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Macro-economist Henrik Zeberg thinks Bitcoin (BTC) and other risk assets are gearing up for a “monster” move, with the trend still in its early stages. Zeberg’s predictions are based\u00a0on the BTC\/SPX Ratio, an indicator that compares Bitcoin’s performance to the S&P 500 index (SPX). BTC\/SPX Ratio Says There Is A Monster Move Incoming Despite recent fluctuations and concerns about the crypto market’s sustainability, Zeberg remains bullish on BTC. In the analyst’s view, the BTC\/SPX Ratio offers strong evidence that the Bitcoin uptrend is “just starting.” Based on price movements, the current leg down in September could provide opportunities for traders to accumulate. The BTC\/SPX Ratio is an indicator that assesses the relative performance of Bitcoin and the stock market. The ratio is derived from dividing the Bitcoin and S&P 500 index (SPX) spot prices.\u00a0When it is rising, like it is presently the case, it indicates that Bitcoin is outperforming the stock market. Conversely, a declining ratio suggests that Bitcoin is underperforming. In that case, banking on the stock market could generate better returns than HODLing BTC. Related Reading: Twitter IPO: Dogecoin Takes Center Stage In Elon Musk\u2019s X IPO Rumors From the chart shared on October 3, Zeberg said a “bull” signal was triggered in February 2023, preceding a substantial rally in Bitcoin’s price. By July 2023, Bitcoin had surged to approximately $32,000. While there has been a cooling-off period since then, Bitcoin is trending above February highs at around $25,200, confirming the uptrend. Between April 2019 and May 2021, when a similar bull signal was printed, BTC soared by 6X, while the S&P 500 saw a more modest increase of 41%. Zeberg’s assessment, based on the BTC\/SPX Ratio, suggests that Bitcoin–and other risk assets, by extension, can post strong gains in the months ahead. Will Bitcoin Fly To $200,000 This Bull Run? Whether this will be printed or not can only be speculated. Looking at the BTC\/SPX Ratio, the indicator is lagging and doesn’t precisely capture market peaks or bottoms.\u00a0 For instance, the last bear signal in May 2021 was months ahead before Bitcoin peaked in November 2021 and fell. Therefore, while the bull signal was recorded in early February 2023, it is unclear whether there will be another leg down before prices rise or bears press on, pushing the coin back to 2022 lows.\u00a0 Related Reading: Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels If buyers take control and the BTC\/SPX Ratio indicator is correct, it is impossible to determine how high BTC will rise at current rates. If the last bull run is anything to go by, BTC may surge by 6X. In that case, BTC may rally and push beyond $200,000 in this bull cycle. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":552216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,89560],"class_list":["post-553984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc-spx-ratio"],"acf":[],"yoast_head":"\nEconomist Predicts "Monster" Move for Bitcoin: Is A 6X To $200,000 On The Table?<\/title>\n<meta name=\"description\" content=\"Macro-economist Henrik Zeberg thinks Bitcoin (BTC) is gearing up for a "monster" move, with the trend forming, still in its early stages.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Economist Predicts “Monster” Move for Bitcoin: Is A 6X To $200,000 On The Table?","url":"http:\/\/wncen.com\/news\/bitcoin-6x-to-200000-btc-spx-ratio\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-6x-to-200000-btc-spx-ratio\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Crypto-news-Template47.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Crypto-news-Template47.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc\/spx ratio"],"dateCreated":"2023-10-04T03:00:31Z","datePublished":"2023-10-04T03:00:31Z","dateModified":"2024-06-11T08:04:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Economist Predicts “Monster” Move for Bitcoin: Is A 6X To $200,000 On The Table?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-6x-to-200000-btc-spx-ratio\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-6x-to-200000-btc-spx-ratio\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Crypto-news-Template47.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Crypto-news-Template47.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\\\/spx ratio\"],\"dateCreated\":\"2023-10-04T03:00:31Z\",\"datePublished\":\"2023-10-04T03:00:31Z\",\"dateModified\":\"2024-06-11T08:04:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/Crypto-news-Template47.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553984"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553984"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/552216"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}