Gold Hits $3,357, Bitcoin May Follow With 100%+ Gain

The price of gold surged to a new all-time high of $3,357 per ounce on April 17, sparking speculation about whether Bitcoin (BTC) would follow suit. Historical data shows that Bitcoin has often rallied after gold prices have increased significantly. In 2017, Bitcoin reached $19,120 after gold experienced a 30% hike a few months earlier. Similarly, in 2020, gold hit a new high near $2,075 during the COVID-19 pandemic, which was followed by Bitcoin's surge to $69,000 in 2021. This pattern suggests a dynamic relationship between the two assets, particularly during periods of economic uncertainty when investors seek alternatives to the US dollar.

Joe Consorti, head of growth at Theya, highlighted the interconnections between gold and Bitcoin, noting that Bitcoin tends to follow gold's directional bias with a lag of 100-150 days. Consorti explained, "When the printer roars to life, gold sniffs it out first, then Bitcoin follows harder." This observation aligns with the historical data, indicating that Bitcoin's price movements often mirror those of gold but with a delay.

Considering Consorti’s view, Bitcoin is expected to potentially attain new all-time highs between Q3 and Q4 of 2025. An anonymous Bitcoin proponent, apsk32, also predicted a similar bullish period between July and November. The analyst's forecast, based on data from past Bitcoin price cycles and BTC’s “power curve time contours,” suggests that Bitcoin will enter a parabolic phase in the latter half of 2025, with a price target as high as $400,000. The analyst used the power law model to normalize Bitcoin's market cap to gold's and plotted BTC on a logarithmic scale, measuring each Bitcoin in ounces of gold instead of dollars.

In a recent interview, Galaxy Digital CEO Mike Novogratz emphasized that Bitcoin and gold are "key indicators of financial stewardship" amid global macroeconomic uncertainty. Novogratz described the current situation as a "Minsky Moment" for the US economy, where Bitcoin thrives in market turbulence driven by a weakening US dollar and capital flowing into safe havens like gold. Despite a 10% year-to-date drop in equities, Novogratz cautioned that markets underestimate the scale of global economic shifts, with tariffs and policies adding uncertainty. He noted 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.