A forecast says bitcoin is likely to record higher returns than gold over the next 2 to 3 years.

On March 6, blockchain media outlet Cointelegraph reported that macroeconomist Lyn Alden (린 알든) said gold has been strong recently, but bitcoin is more likely to deliver better performance through 2029.

Alden pointed out, "Gold has recently hit new record highs and a positive mood has formed in the market, but bitcoin is being viewed relatively negatively." JM Bullion's Fear and Greed Index, which reflects sentiment toward gold investment, scored 72 out of 100 to enter the greed stage. The Fear and Greed Index for bitcoin and the crypto market stood at 18, indicating a state of extreme fear.

Bitcoin is currently at $71,164, down 44 percent from the record high of $126,000 set in October last year. Alden stressed, "Bitcoin and gold can rise or fall together, but in the long run bitcoin's growth potential is greater."

Many crypto industry executives, including Coinbase CEO Brian Armstrong (브라이언 암스토롱), have predicted bitcoin will reach $1 million by 2030 as regulations in the United States become clearer. By contrast, billionaire investor Ray Dalio (레이 달리오) recently took a cautious stance, saying, "Bitcoin lacks support from central banks and is not suitable as a long-term store of value due to privacy and quantum resistance issues."

In October last year, Ju Ki-young (주기영), head of CryptoQuant, analyzed, "The correlation between bitcoin and gold is rising, and both assets are establishing themselves as strong hedges amid macroeconomic uncertainty." He added, "As gold continues to find new all-time highs (ATH), demand for inflation hedges has not yet disappeared." At the time, the BTC-gold correlation coefficient was above 0.85, up from -0.8 in October 2021.