2 min read
Bitcoin has dropped to its lowest level ever against gold, but analysts say this may actually signal a major buying opportunity, even stronger than the one seen before the historic 2017 bull run. With BTC to PKR volatility rising, market data suggests Bitcoin could soon start catching up to gold as early as February.
According to data shared by Bitwise Europe, Bitcoin’s value compared to gold fell to a record low in January after adjusting for global money supply. This BTC to gold ratio has historically appeared near major market bottoms, including in 2015 just before Bitcoin surged nearly 11,800% over two years.
Crypto analyst Michaël van de Poppe commented:
“Today represents a better opportunity to be buying Bitcoin than 2017.”
This comparison is gaining attention as BTC to PKR prices remain under pressure while long-term indicators quietly improve.
Over the past year, gold prices have nearly doubled, while Bitcoin has declined around 18%. This performance gap has fueled debate over whether investors may rotate capital from gold back into Bitcoin.
Analysts from Bitwise and Swyftx believe such a rotation could begin by February or March, especially if risk appetite returns to crypto markets.
However, analyst Benjamin Cowen warned that Bitcoin may continue underperforming in the short term, saying expectations of a fast shift from gold to BTC could be premature.
Despite January’s sell-off, on-chain data from CheckOnChain shows that long-term Bitcoin holders are increasing their holdings. Historically, this pattern has appeared just before strong BTC recoveries, including a recent rally where Bitcoin jumped nearly 60% after similar accumulation.
This behavior suggests experienced investors may be positioning early, even as short-term sentiment remains cautious.
If historical trends repeat, Bitcoin’s current weakness against gold could mark the foundation of its next major move. For Pakistani investors watching BTC to PKR, the coming months may prove critical as global capital flows and macro conditions evolve.
