Crypto analyst Michaël van de Poppe predicts that Bitcoin could hit a new all-time high within two to three weeks.
He parallels gold’s impressive rally, expressing confidence that Bitcoin will mirror its performance.
#Bitcoin is likely to print new all-time highs.
Gold has been printing strong all-time highs and I think we’ll see the same for Bitcoin in the coming 2-3 weeks. pic.twitter.com/JLRbD5KVbr
— Michaël van de Poppe (@CryptoMichNL) February 11, 2025
Gold has been on a strong upward trajectory, surpassing its all-time high in late January. Its momentum remains solid, with the asset posting significant gains in early February, echoing the 2.2% increase recorded the previous week. Currently, gold is trading above 2,900 per ounce, according to Goldprice.org. It will extend its winning streak to seven consecutive weeks if it maintains this level.
Given their historical correlation, gold’s surge likely influenced van de Poppe’s optimism for Bitcoin. However, while gold has been steadily climbing, Bitcoin has remained relatively stable, suggesting it is in an accumulation phase. Analyst Daink recently highlighted this divergence, noting that although Bitcoin has yet to follow gold’s lead, it has historically caught up after similar decouplings. Bitcoin may soon experience a breakout if this trend holds, lending credibility to van de Poppe’s projection.
Key Notes
– Gold making new ATHs forming HHs and HLs
– $BTC range bounding between 91k – 105kEach time Gold displaces away from BTC, BTC plays catch up as highlighted in black circles pic.twitter.com/IcrxJINCIf
— Daink (@TraderDaink) February 10, 2025
On the other hand, not all analysts share the same bullish outlook. Crypto analyst Cheds warns that Bitcoin could decline if it fails to hold above the critical $90,000 support level. In a recent YouTube session, he highlighted Bitcoin’s sideways movement, with resistance at $107,000 and key support at $90,000. He stressed that breaking below this level would deal a “severe momentum blow” to Bitcoin’s uptrend. Cheds further cautioned that if Bitcoin loses $90,000, it could swiftly drop to $74,000 or even $72,000, as he sees no strong support at $85,000 or $78,000. He urged traders to closely monitor this level, as a breach could trigger a rapid sell-off. With Bitcoin at a critical juncture, the coming weeks will determine whether it aligns with gold’s bullish momentum or succumbs to downward pressure.
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