Bitcoin Price Predictions: Could It Follow Gold's Path?

Crypto analyst Colin has sparked discussions about the potential for Bitcoin's price to mirror the dramatic upward trajectory of gold. He elaborated on what this scenario might mean for BTC in the near future.

In a recent post on X, Colin suggested that if Bitcoin were to emulate gold's movement, we could witness another bullish surge as early as next week. He expressed skepticism about the flagship cryptocurrency failing to experience a significant upward shift, especially considering that gold and stocks have achieved remarkable new all-time highs in recent months.

Colin further analyzed the relationship between crypto and traditional assets, noting that capital tends to flow into cryptocurrencies, albeit with a slight delay. He illustrated this point with a chart comparing gold and BTC, explaining that the peak in gold prices could indicate a corresponding peak for Bitcoin around January 2026, when adjusted by an 80-day timeframe. His analysis suggested that if BTC's bull market continues into January of the next year, it could potentially soar to as high as $175,000, as indicated in his chart.

While Colin acknowledged that his predictions might not come to fruition, he emphasized that several other metrics point towards continued upward momentum for BTC. He also noted a prevailing bearish sentiment within the cryptocurrency market, as Bitcoin has dipped below the $100,000 mark multiple times this week.

This situation has led to worries that Bitcoin might already be entering a bear market. Nonetheless, Colin remains optimistic, suggesting that BTC could still reach new all-time highs before this cycle concludes. His outlook aligns with predictions from entities like Standard Chartered, which foresees Bitcoin climbing to a range of $150,000 to $200,000 by the end of the year.

In a separate update on X, Colin elaborated on the reasons he believes Bitcoin may not have reached its peak in this current bull run. He pointed out that the intersection of the 1150-day Simple Moving Average (SMA) with the peak times of previous bull runs suggests further upside potential. This phenomenon was observed during the 2017 and 2021 bull runs, which marked the respective tops for BTC.

Colin indicated that the current 1150-day SMA has not yet aligned with the $65,000 peak from the last cycle, implying that Bitcoin may still have room for substantial growth in this market cycle. He projected that, if the 1150-day SMA trend continues, it could signal a top for Bitcoin's price around late December this year or into January of the next year. He reiterated that all indicators collectively suggest a potential peak around this timeframe.

As of now, Bitcoin is trading at approximately $102,400, having shown some volatility in its price movement.