CoinVoice has recently learned that, according to Cointelegraph, crypto analyst Apsk32 stated that Bitcoin following gold to reach new highs is a popular theory among bullish investors. Historically, Bitcoin tends to follow gold's rise a few months after gold increases. With gold prices hitting an all-time high of $3,500 per ounce, the future price prospects for Bitcoin have also become more optimistic.
Apsk32 mentioned the concept of the 'momentum curve', which measures Bitcoin's price in terms of ounces of gold to avoid the effects of dollar inflation. If Bitcoin's network value (in gold) continues to evolve along the momentum curve, and gold maintains its current price, while Bitcoin's price returns to its leading support trend over the past five years, we could see a target of $444,000 this year. However, this week, Apsk32 believes a more 'reasonable' target price for 2025 might be around $220,000. He also stated that if Bitcoin's price breaks through $250,000, that would be beyond expectations. [Original link]
