Forecasts for $1 million bitcoin price likely look too ambitious, key ratio suggests
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Forecasts for a $1 million bitcoin price are likely overly optimistic, a key ratio suggests. The ratio of the 10-year U.S. Treasury yield to the bitcoin price has historically been a reliable indicator of future price movements. Currently, high yields on long-term U.S. Treasuries make non-yielding assets like bitcoin less attractive, implying a potential price correction.
The thesis is that high yields on long-term U.S. Treasuries make non-yielding assets like bitcoin less attractive.