Gold's Record Surge Sparks Bitcoin Price Speculation
According to PANews, gold prices reached a historic high of $3,357 per ounce on April 17, prompting speculation about whether Bitcoin will follow suit. Historically, Bitcoin has surged following significant increases in gold prices. In 2017, Bitcoin soared to $19,120 after gold rose by 30% months earlier. Similarly, during the COVID-19 pandemic in 2020, gold hit a peak of nearly $2,075, and Bitcoin subsequently climbed to $69,000 in 2021. This pattern suggests a dynamic relationship between the two assets during times of economic uncertainty and when investors seek alternatives to the U.S. dollar.
Joe Consorti, head of growth at Theya, highlighted the connection between these assets, noting that Bitcoin tends to follow gold's directional movement with a lag of 100 to 150 days. Consorti stated, "When the printing press starts, gold senses it first, and then Bitcoin follows with a stronger rally." Based on Consorti's analysis, Bitcoin is expected to reach new all-time highs between the third and fourth quarters of 2025. An anonymous Bitcoin supporter, apsk32, anticipates a similar outcome or bull market between July and November.