TLDR
- Bitcoin’s midterm price target prediction is $155,000, possibly following gold’s pattern
- While gold reached new all-time highs of $3,300, Bitcoin has been down 9.3% year-to-date
- Bitcoin has shown resilience during global economic uncertainty, recovering from a dip to $75,000
- Bitcoin’s recent 33% correction from its all-time high is the shallowest compared to past cycles
- Analysts suggest Bitcoin and gold are increasingly becoming “global neutral reserve assets”
Bitcoin (BTC) has been trading in the mid-$80,000 range while gold continues to reach new record highs. Despite Bitcoin’s price being down 9.3% year-to-date, crypto analysts are drawing parallels between the two assets and predicting that Bitcoin could soon mirror gold’s recent momentum with a midterm target of $155,000.
Trading account Cryptollica shared a chart on X on April 16 showing striking similarities between the price actions of gold and Bitcoin. According to their analysis, both assets formed macro bottoms around early 2023, followed by rejections at range tops in early 2024. While gold broke out in the following months, Bitcoin has lagged slightly behind.
GOLD vs. BITCOIN 🏅
Bitcoin midterm target: 155K $ pic.twitter.com/tAEngVLlIg
— Cryptollica⚡️ (@Cryptollica) April 16, 2025
Bitcoin has been trading at around $84,694, recovering from a recent dip to $75,000. This recovery comes amid global economic uncertainty and tariff-induced market volatility, suggesting that Bitcoin may be maturing as a safe haven asset alongside gold.
Bitcoin’s Resilience in Economic Uncertainty
The cryptocurrency has demonstrated surprising resilience during the current macroeconomic storm. According to Glassnode’s “The Week Onchain” newsletter published on April 16, both Bitcoin and gold have weathered economic turmoil well.
Gold reached a new all-time high of $3,300 as investors flocked to traditional safe haven assets. Bitcoin initially sold off to $75,000 alongside risk assets but has since recovered to around $85,000, remaining flat despite market volatility.
Glassnode notes that gold and Bitcoin are “increasingly entering the center stage as global neutral reserve assets.” This suggests a changing perception of Bitcoin among investors who may be viewing it as a hedge against economic uncertainty.
In terms of price drawdown, the Bitcoin price dip versus all-time highs remains modest at around 30-33%. This is particularly telling when compared to historical standards.
Unprecedented Market Cycle Stability
Bitcoin’s recent correction from its all-time high of $108,786 (recorded in January) stands at approximately 33%. According to Glassnode data, this represents the shallowest correction among past cycles, with the deepest being 72% during the 2012-2014 bull market.
“In prior macroeconomic events like last week, Bitcoin has typically experienced greater than -50% sell-offs in such events, which highlights a degree of robustness of modern investor sentiment toward the asset during unfavorable conditions,” Glassnode wrote, referring to the ongoing US-China trade war.
This relative stability during economic headwinds marks a departure from Bitcoin’s historically volatile behavior during similar market conditions.
Technical Analysis Points to Higher Prices
According to Cryptollica’s technical analysis, Bitcoin appears to be breaking out of a consolidatory wedge pattern. Their chart comparison with gold suggests Bitcoin could follow gold’s breakout pattern with a potential midterm price target of $155,000.
Several macroeconomic factors could support this bullish outlook. These include a declining US Dollar Index (DXY) and all-time highs in the global M2 money supply, which is expected to increase further in 2025. Historically, expansions in the money supply have supported risk-on assets like Bitcoin.
While Bitcoin bulls hope for a major price surge, institutional investors appear to be taking profits. This is evidenced by recent outflows from Bitcoin exchange-traded funds (ETFs).
Bitcoin’s current price movement comes as the cryptocurrency reaches a critical juncture. The digital asset shows signs of maturing as a reliable store of value during times of geopolitical uncertainty, potentially validating its nickname as “digital gold.”
As Bitcoin continues to navigate the current economic landscape, investors are watching closely to see if it will indeed follow gold’s upward trajectory as predicted by some analysts.
Bitcoin’s behavior in the coming months may provide further insight into its evolving role in the global financial system and its potential to reach new price milestones in this market cycle.
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