Editor's PiCK
Will Bitcoin Follow Gold to Record Highs? "Following Past Price Trends"
Summary
- Recently, as gold prices hit an all-time high, the market is focused on the potential rise of Bitcoin.
- Joe Consorti mentioned that after a surge in gold prices, Bitcoin broke through highs after a certain time lag, suggesting Bitcoin might follow.
- He predicted that Bitcoin might set a new all-time high between the third and fourth quarters of this year.
Recently, as gold prices hit an all-time high, the market is focused on whether Bitcoin will follow suit.
On the 18th (local time), Joe Consorti, the Chief Growth Officer of Bitcoin custody company Theya, told Cointelegraph, "Looking at past cases, Bitcoin also broke historical highs after a certain time lag following a surge in gold prices."
In fact, after gold rose 30% over several months in 2017, Bitcoin also rose to $19,120. During the COVID-19 pandemic in 2020, gold reached an all-time high of $2,075 per ounce, and in 2021, Bitcoin broke through a high of $69,000.
Consorti said, "Bitcoin follows gold's direction with a time lag of about 100-150 days," adding, "When liquidity is released, gold reacts first, and Bitcoin follows more strongly. Accordingly, there is a possibility that Bitcoin will set a new all-time high between the third and fourth quarters of this year."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
