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In a post on Platform X, renowned cryptocurrency analyst Michaël van de Poppe predicted that Bitcoin will likely reach an all-time high in the next 2-3 weeks.

He is bullish on Bitcoin’s bullish trend, comparing it to gold’s strong performance. Gold recently broke its previous record in late January and is now trading above $2,900 per ounce. This would be the seventh consecutive week of gains for gold.

Despite the historical correlation between the two assets, Bitcoin has been relatively stable recently and has entered an accumulation phase. Another analyst, Daink, noted that while gold is moving towards new highs, Bitcoin has yet to follow suit.

However, he believes that Bitcoin usually catches up to gold after such breakouts, meaning Bitcoin may soon be ready to catch up.

Bitcoin is likely to reach a higher value after the price of gold stabilizes