BlockBeats News, May 16th, according to Cointelegraph, cryptocurrency analyst Apsk32 stated that Bitcoin has set a new high following gold, a theory highly popular among bullish investors. Historically, Bitcoin tends to rise after gold has been rising for several months. As the price of gold surged to a historical high of $3,500 per ounce, the future price trend of Bitcoin has also become more promising.
Apsk32 mentioned the concept of the "Power Law Corridor," which measures the Bitcoin price in terms of gold ounces to mitigate the impact of USD inflation. If Bitcoin's network value (measured in gold) continues to evolve along the Power Law Corridor, and gold maintains its current price while the Bitcoin price returns to the five-year leading support track, this year's target could reach $444,000. However, this week, Apsk32 considers a more "reasonable" target price for 2025 to be around $220,000. He also stated that if the Bitcoin price surpasses $250,000, it would be considered above the expected range.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.