Bitcoin Could Rise to 600,000 USD? Analysis Compared to Gold Suggests a New Bull Wave

Bitcoin has slightly fallen this week after reaching a new peak, but a strong bullish wave is spreading. According to market updates, the coin hit a milestone of 124,390 dollars before falling to 114,158 dollars and then slightly rising to 115,285 dollars at the time of writing. According to a report from a chart analyst named AO, Bitcoin may be following a pattern similar to gold and that pattern could indicate a rise to $600,000 - an increase of about 420% from the current level. Analysts See Golden Pattern AO's perspective is based on chart patterns. He compares the recent ascending wedge and triangle formation of Bitcoin with the movement of gold over the past decade. According to AO, Bitcoin consolidating around the $115,000 level could be the foundation for a major breakout.

The scenario of AO includes what he calls "lost legs" and he puts a figure that could exceed half a million dollars by 2026 if this model plays out the way he expects. Reports have mentioned similar geometric comparisons from other followers, although few have provided an exact target price like $600,000. Market Cap If Achieving Target Based on those numbers, a price of $600,000 would imply a market value of around $12 trillion. That number will push Bitcoin past many major tech names and bring its value closer to gold than it is currently.

According to the same report, this is precisely the idea used to demonstrate that Bitcoin is an important store of value. The calculation behind this remarkable figure is quite simple, and the scale of the volatility - about 420% from a level of around 115,000 dollars - is what makes this claim noteworthy. Bull Case Supported By Some Big Names The voices of organizations further intensify the debate. Michael Saylor of Strategy, one of the most steadfast supporters of Bitcoin, continues to argue that this asset will outperform traditional stores of value as more companies adopt it into their balance sheets. Cathie Wood of Ark Invest has predicted that Bitcoin could eventually reach 1 million dollars, highlighting the growing confidence of prominent investors. Meanwhile, Mexican billionaire Ricardo Salinas Pliego has also expressed the view that Bitcoin could surpass the valuation of about 22 trillion dollars of gold over time. Signals That Can Change the Story Not everyone sees price pattern analysis as a forecast. Some analysts warn that comparing chart shapes with gold prices does not guarantee similar results will occur. These two assets have different buyers, liquidity, and use cases, and a strong rise to $600,000 may require significant and long-term cash flow into Bitcoin — for example, a large institutional allocation or a permanent reserve move — rather than just a short-term spike. Regulations, interest rates, and market shocks are other real factors that can alter any plans.