Here is 50 year $USD price of Gold, adjusted for Government calculated inflation index, which we know is understated.
The depth of the cup is about 800% from $100 base to $800 cup neckline.
On that basis, we can calculate a measured move to $7,200 …. adjusted for inflation.
Or about $18,000 based on a $2000 gold price neckline, not adjusted for inflation.
These measured move targets are a minimum, and if inflation takes off over coming years, with fiat currency printing and subsequent fiat currency collapse, its easy to see $20,000 as a potential target.
Using Gold to Silver ratio of 50, which is the historical mean, then $Silver has upside to $400, for 2000% potential gain, compared to gold at 800% potential gain.
This is why the precious metals sector is a buy and hold right now, as we know much much higher prices are coming in the future. The daily moves are just noise in the bigger picture.
What price Bitcoin at $20,000 gold and $400 silver? I would suggest its going to be a six figure number.