Crypto market analysts are predicting a potential new all-time high for Bitcoin in the coming weeks. These expectations coincide with the rising gold prices.
Analysts' Predictions
Crypto analyst Michaël van de Poppe predicts that Bitcoin could hit a new all-time high within the next two to three weeks. He believes this surge will mirror the recent rally in gold prices. Van de Poppe expressed confidence that Bitcoin will soon match gold's performance.
Current Gold Trends
Gold has been on a strong upward trajectory, surpassing its all-time high in late January. It is currently trading above $2,900 per ounce, maintaining solid momentum. This trend influences the optimistic forecasts for Bitcoin.
Risks and Other Analysts' Comments
Not all analysts share the optimistic outlook. Crypto analyst Cheds warns that Bitcoin could decline if it fails to hold above the critical $90,000 support level. Cheds highlighted that if Bitcoin drops below this level, it could quickly descend to $74,000 or even $72,000. These levels suggest Bitcoin's price stability is uncertain.
The coming weeks will be pivotal for the cryptocurrency market. Investors are closely monitoring Bitcoin's movements to determine whether it will follow gold's upward momentum or face downward pressure.
