Thomas Daniels
Bitcoin’s potential to reach $340,000 this market cycle would mark a historic milestone—surpassing its prior cycle’s 2,100% gains for the first time in its 16-year history. While analysts describe this as a “very big ask,” BTC’s long-term performance has already outshined nearly every other macro asset over the past five years.
Macro trader and investor Jason Pizzino recently highlighted that Bitcoin, currently trading near $118,721, is already up approximately 700% from its 2022 bear market low of $15,600. However, the cryptocurrency still falls short of the exponential returns recorded between 2019 and 2021, when BTC/USD surged 2,089% at its peak.
“If Bitcoin hits $340,000 this cycle, it would be the first time in its history that it has outperformed the previous cycle,” Pizzino noted. “That’s a $6.7 trillion market cap—less than a third of gold’s $23 trillion—and would make Bitcoin the second most valuable asset globally, behind only gold.”
As of July 2025, Bitcoin ranks among the top five macro assets by market capitalization worldwide.
Correlations with the 18-Year Real Estate Cycle
Pizzino also drew attention to Bitcoin’s growing alignment with the 18-year real estate cycle, marking the first full overlap between the two. He described the relationship as a “superb love story,” suggesting that both assets could experience synchronized growth patterns in the coming years.
In gold terms, Bitcoin reached all-time highs in late 2024, but a gold rally subsequently pushed BTC/XAU down by 40%. The ratio has since rebounded, with 1 BTC now equivalent to approximately 36 ounces of gold.
Bitcoin’s Five-Year Performance Outpaces All Major Assets
Data from JAN3 Financial underscores Bitcoin’s dominance in returns. Over the past five years, BTC achieved a 58.2% compound annual growth rate (CAGR), significantly ahead of its closest competitors:
- QQQ: 16.28%
- SPY: 13.68%
- Gold (GLD): 10.49%
“Bitcoin remains in a league of its own,” JAN3 Financial affirmed, emphasizing the asset’s unmatched ability to outperform traditional markets.
