Bitcoin's Golden Power Law Model:
Rising gold prices suggest better-than-expected Bitcoin performance, with $300k+ possible in 2025.
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The price of gold has increased by more than 30% since January 2024, a move that suggests the Fed's money printing is inflating asset prices.

In order for Bitcoin's gold-normalized market cap to continue following a power law, Bitcoin's price will need to respond to the move in gold.

Previous cycle tops have all occurred above the 0.95 quantile. Currently, the 0.95 quantile value is at $320,000.

Note: Gold is volatile, and a pullback in gold would lower this estimate. Also, gold does not solely move due to money creation; geopolitical factors could be driving gold upwards, and those factors may not correlate with Bitcoin's price action.