Crypto analyst Colin has raised the possibility of the Bitcoin price mirroring gold’s parabolic move. The analyst further revealed how this could play out for BTC if it were to happen eventually.
What Will Happen If The Bitcoin Price Mirrors Gold
In an X post, Colin indicated that the Bitcoin price will record another uptrend as soon as next week if it were to follow gold’s move. He opined that it is unlikely the flagship crypto will not witness another significant move to the upside, given that gold and stocks saw meteoric rises to new all-time highs (ATHs) in recent months.
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Coilin further remarked that money will still flow toward crypto, with a delay, as he highlighted in the gold vs BTC chart. He added that the gold top would forecast a top for the Bitcoin price in January 2026 when shifted forward by 80 days. His accompanying chart showed that BTC could still rally to $175,000 if its bull market extends into January next year.
Colin admitted that this could be wrong for the Bitcoin price, but noted that many other metrics were pointing toward more upward price action for BTC. Meanwhile, he also highlighted the fact that sentiment was getting bearish in the crypto market. The market is currently on a downtrend, with the BTC dropping below $100,000 on several occasions this week.
This has raised concerns that the Bitcoin price may already be in a bear market. However, Colin has indicated that BTC could still rally to new all-time highs before this cycle ends. His prediction aligns with that of the likes of Standard Chartered, which has predicted that BTC could reach between $150,000 and $20,000 by year-end.
Why The BTC Top May Not Be In
In another X post, Colin also explained why the top might not be in for the Bitcoin price in this bull run. He noted that the intersection of the 1150-day SMA with previous bull run peak times the top of the next peak. This happened in both the 2017 and 2021 bull runs, which marked the top for BTC at the time.
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Now, the analyst said that this moving average hasn’t quite lined up with the $65,000 top from the previous cycle, indicating that BTC still has more room to rally to the upside in this market cycle. Colin added that this 1150-day SMA, if projected out, will indicate a top for the Bitcoin price around late December this year or January next year. He reiterated that all metrics collectively point to a top around late December or January next year.
At the time of writing, the Bitcoin price is trading at around $102,400, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com