Gold’s New Heights: Is Bitcoin Ready to Dance? 💃💰

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On this fateful day, April 17, the price of gold has soared to a staggering $3,357 per ounce, igniting a veritable firestorm of speculation. Will Bitcoin (BTC), that capricious creature of the digital realm, follow suit? The world holds its breath, as if waiting for a cat to decide whether to leap or lounge.

Ah, the year was 2017, a time when Bitcoin galloped to $19,120, all thanks to gold’s audacious 30% hike just months prior. Fast forward to 2020, during the pandemic that turned our lives upside down, gold reached a new high of $2,075, paving the way for Bitcoin’s meteoric rise to $69,000 in 2021. Coincidence? Or perhaps a cosmic joke played by the financial gods?

Historically, Bitcoin has been a faithful follower, surpassing its previous all-time highs whenever gold decides to strut its stuff. This dynamic duo dances together during economic uncertainty, as investors seek refuge from the tempestuous seas of the US dollar.

Joe Consorti, the sage of Theya, has pointed out that BTC follows gold’s lead with a delightful lag of 100-150 days. He quipped,

“When the printer roars to life, gold sniffs it out first, then Bitcoin follows harder.”

With Consorti’s prophetic insights, Bitcoin is poised to reach new heights between Q3 and Q4 of 2025. The enigmatic Bitcoin enthusiast, apsk32, predicts a bullish period between July and November. Will they be right, or is it just another wild goose chase?

Delving into the annals of Bitcoin price cycles and its “power curve time contours,” our analyst foresees a parabolic phase in the latter half of 2025, with a price target soaring as high as $400,000. Using the power law model, he has normalized Bitcoin’s market cap to gold’s, plotting BTC on a logarithmic scale, measuring each Bitcoin in ounces of gold instead of dollars. Because why not complicate things further?

Bitcoin trading like “Mag 8” amid tariff uncertainty

In a recent tĂȘte-Ă -tĂȘte with CNBC, Galaxy Digital’s CEO, Mike Novogratz, proclaimed that Bitcoin and gold are the “key indicators of financial stewardship” in these turbulent times. He dubbed it a “Minsky Moment” for the US economy, where Bitcoin flourishes amidst chaos, driven by a weakening dollar and capital flocking to safe havens like gold, which has recently decided to shine.

Novogratz further lamented that despite a 10% year-to-date drop in equities, the markets are woefully underestimating the scale of global economic shifts. With tariffs and Trump’s policies adding a delightful layer of uncertainty, he warned that rising interest rates and a faltering dollar suggest the US is behaving like an emerging market. Bitcoin and gold, it seems, are merely reflecting our growing concerns over unsustainable deficits and the staggering $35 trillion national debt. What a time to be alive!

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2025-04-17 21:56