Bitcoin (BTC) price prediction: The price of gold surged to a new all-time high of $3357 per ounce

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research

The price of gold surged to a new all-time high of $3,357 per ounce on April 17, igniting speculation on whether Bitcoin (BTC) would follow.

In 2017, Bitcoin rallied to $19,120 after gold witnessed a 30% hike a few months earlier. Similarly, gold reached a new high near $2,075 in 2020 during the COVID-19 pandemic, which preceded Bitcoin’s surge to $69,000 in 2021.

Bitcoin has historically surpassed its previous all-time highs whenever gold rallies, reflecting a dynamic relationship between the two assets during periods of economic uncertainty and when investors look for a US dollar alternative.

Further highlighting the interconnections between the assets, Joe Consorti, head of growth at Theya, pointed out that BTC follows gold’s directional bias with a lag of 100-150 days at a time. Consorti said,

“My directional bias on Gold is bullish. I think it will continue to flow higher over the next 12-18 months. If we were to see new all-time highs in Gold around April 2024, then I think we can expect to see new all-time highs in Bitcoin sometime between Q3 and Q4 of 2025.”

Considering Consorti’s view, Bitcoin is expected to potentially attain new all-time highs between Q3 and Q4 of 2025. Anonymous Bitcoin proponent apsk32 expected a similar outcome or bullish period between July and November.

Looking at data from past Bitcoin price cycles and BTC’s “power curve time contours,” the analyst predicted that Bitcoin will enter a parabolic phase in the latter half of 2025, with a price target as high as $400,000. Using the power law model, the analyst normalized Bitcoin's market cap to gold's and plotted BTC on a logarithmic scale, measuring each Bitcoin in ounces of gold instead of dollars.

Related: Bitcoin gold copycat move may top $150K as BTC stays ‘impressive’

Bitcoin trading like “Mag 8” amid tariff uncertainty

In a recent interview with CNBC, Galaxy Digital CEO Mike Novogratz said that Bitcoin and gold are “key indicators of financial stewardship” amid global macroeconomic uncertainty. Highlighting it as a “Minsky Moment” for the US economy, Novogratz said that Bitcoin thrives in market turbulence, driven by a weakening US dollar and capital flowing into safe havens like gold, which has recently rallied.

Novogratz added that despite a 10% year-to-date drop in equities, markets underestimate the scale of global economic shifts, with tariffs and Trump’s policies adding uncertainty. He cautioned that rising interest rates and a weakening dollar signal the US is behaving like an emerging market, with Bitcoin and gold reflecting growing concerns over unsustainable deficits and the $35 trillion national debt.

Related: Bitcoin online chatter flips bullish as price chops at $85K: Santiment

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.