Bitcoin (BTC) Has a New Gold-Inspired $155,000 Target, as Analysis Describes Both Assets as "Remarkably Impressive"

In a post on X on April 16, popular trading and analytics account Cryptollica predicted BTC/USD copying gold to hit new all-time highs next.

Bitcoin (BTC) can hit a new gold-inspired price target of $155,000, one analyst predicts as both assets are "remarkably impressive."

Popular trading and analytics account Cryptollica made the prediction on X, formerly Twitter, on April 16.

Bitcoin has been the subject of great interest as it lags behind gold in terms of new all-time highs.

While XAU/USD is making good progress to higher ground, BTC/USD is down 9.3% year-to-date, according to data from Cointelegraph Markets Pro and TradingView.

Despite calls for an imminent “blow-off top” for gold, crypto traders will be hoping that after a delay of several months, its “digital” equivalent will follow suit.

For Cryptollica, this means BTC/USD breaking out of a wedge structure to swiftly reclaim six figures — and more.

“Bitcoin midterm target: 155K $,” it told its followers.

BTC price performance already has various potential tailwinds at its disposal, all of which have fuelled bull runs in the past.

These include a declining US dollar index (DXY) and all-time highs in the global M2 money supply.

Bitcoin 'impressively robust' during trade war

Meanwhile, onchain analytics firm Glassnode highlighted how Bitcoin and gold have encountered the current macroeconomic storm remarkably well.

“Amidst this turmoil, the performance of hard assets remains remarkably impressive,” it summarized in the latest edition of its regular newsletter, “The Week Onchain,” published on April 16.

Glassnode added that both assets are “increasingly entering the centre stage as global neutral reserve assets.”

In terms of the BTC price drawdown, analysts stressed the fact that by historical standards, the dip versus all-time highs is still modest at around 30%.

“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 towards the asset during unfavourable conditions,” they wrote, referring to the US-China trade war.