Key Points
- Michaël van de Poppe predicts Bitcoin will reach a new all-time high in the next 2-3 weeks.
- The prediction is based on gold’s strong performance and the historical correlation between Bitcoin and gold.
Crypto expert Michaël van de Poppe anticipates that Bitcoin is set to reach a new all-time high within the next two to three weeks. This forecast is based on the robust performance of gold recently.
Van de Poppe’s Forecast
In a recent post, Michaël van de Poppe suggested that Bitcoin is on the verge of setting a new record high. He drew parallels to the robust performance of gold, predicting that Bitcoin would follow a similar trajectory.
Gold’s Performance
Gold has been performing exceptionally well recently, surpassing its previous all-time high in late January. The asset’s momentum is impressive, with substantial gains recorded in the early days of February. Currently, gold is trading above $2,900 per ounce. If it maintains this level, it will mark its seventh consecutive week of price appreciation.
Bitcoin-Gold Correlation
Both Bitcoin and gold have shown correlated patterns in the past, which is likely why van de Poppe made his prediction for a new Bitcoin all-time high. While Bitcoin has remained relatively stable recently, gold has been steadily trending upward.
Analyst Daink recently highlighted this trend, noting that despite gold pushing new highs, Bitcoin has not yet followed suit. However, Daink suggests that Bitcoin has historically caught up with gold after such decouplings. This implies that Bitcoin might be set to play catch-up soon, lending credibility to van de Poppe’s prediction.
