Gold reached a record high of $3,357 per ounce, prompting speculation that Bitcoin will follow suit. Historically, Bitcoin has surged post-gold rallies with significant price increases noted in 2017 and 2020. Analysts, including Joe Consorti, predict Bitcoin may achieve new highs between late 2025 and assert strong correlations with gold amid economic uncertainty, as highlighted by Mike Novogratz from Galaxy Digital.
The price of gold recently achieved a record high of $3,357 per ounce on April 17, leading to speculation about Bitcoin’s potential response. Historical trends indicate that Bitcoin often follows gold’s price movements, having surged to $19,120 in 2017 following a 30% rise in gold prices. A similar pattern was observed in 2020 when Bitcoin reached $69,000 after gold peaked at approximately $2,075 during the pandemic.
Analysts suggest a notable correlation between gold and Bitcoin, particularly during periods of economic instability and when investors seek alternatives to the US dollar. Joe Consorti, from Theya, noted that Bitcoin typically follows gold’s price trajectory with a delay of 100-150 days. Based on these insights, he anticipates Bitcoin may reach new all-time highs between the third and fourth quarters of 2025.
Furthermore, a Bitcoin advocate, apsk32, predicts a bullish trend from July to November, coinciding with historical price cycles. By examining Bitcoin’s “power curve time contours,” it is projected that Bitcoin could enter a parabolic growth phase in late 2025, targeting a price increase potentially up to $400,000. This model compares Bitcoin’s market cap with that of gold, representing Bitcoin’s value in ounces of gold rather than dollars.
Galaxy Digital CEO Mike Novogratz remarked on Bitcoin and gold’s significance in uncertain economic times, referring to the situation as a “Minsky Moment” for the US. He explained that Bitcoin flourishes amid market instability, with the weakening dollar pushing investors toward safer assets such as gold. With equities down by 10% this year, Novogratz highlighted that rising interest rates and a depreciated dollar indicate a trend seen in emerging markets, where concerns about substantial national debt and deficits are increasingly prevalent.
