When gold price hits new highs, history shows ‘Bitcoin follows’ within 150 days — Analyst
Historical data shows Bitcoin price rallying within 150 days of gold hitting new all-time highs.
The price of gold surged to a new all-time high of $3,357 per ounce on April 17, igniting speculation on whether Bitcoin (BTC) would follow.
In 2017, Bitcoin rallied to $19,120 after gold witnessed a 30% hike a few months earlier. Similarly, gold reached a new high near $2,075 in 2020 during the COVID-19 pandemic, which preceded Bitcoin’s surge to $69,000 in 2021.
Bitcoin has historically surpassed its previous all-time highs whenever gold rallies, reflecting a dynamic relationship between the two assets during periods of economic uncertainty and when investors look for a US dollar alternative.
