Gold Price Sets New Records, Will Bitcoin Follow?

Updated

April 17, 2025

Gambar Gold Price Sets New Records, Will Bitcoin Follow?

Jakarta, Pintu News – In recent days, global markets have shown an interesting contrast between two popular assets: Gold and Bitcoin . Gold managed to set new record highs, while Bitcoin is still battling volatility and uncertainty. The question arises: will BTC follow in gold’s footsteps as a hedge asset in a stressful global economy?

Gold vs Bitcoin Performance: Who Excels?

The competition between gold and Bitcoin as a hedge against inflation has been ongoing since the dawn of cryptocurrencies. However, in the short term, gold seems to be taking the upper hand. In the past 24 hours, the price of gold rose by about $103 (at an exchange rate of IDR 16,820/USD), reaching a new record of $3,326.76.

In contrast, Bitcoin only recorded an increase of 0.25%, with the current price being in the range of $85,147.34 or around Rp1.43 billion. In the same period, BTC showed volatile price movements, with a daily low of $83,185 and a high not far from the daily opening.

Also Read: XRP Current State: Price Consolidation and Potential Breakout Amid Ripple and SEC Deal

Geopolitical Factors Push Gold, Bitcoin Still on Hold

Geopolitical tensions, particularly the tariff war between the United States and China, have been the main driver of the surge in gold prices. This asset has regained its reputation as a safe haven when global economic uncertainty increases. The relatively consistent price stability of gold has made investors more confident in using it as a store of value.

On the other hand, Bitcoin, which is often considered as “digital gold”, has not shown a similar performance. Despite institutional inflows from large firms such as Strategy and Metaplanet, market sentiment towards BTC has yet to recover. High volatility remains a major obstacle for Bitcoin to gain the status of a fully stable asset in the short term.

Volatility is the current challenge for Bitcoin

Since hitting an all-time high of over $109,114, Bitcoin has corrected by 22.2%, according to CoinMarketCap data. In the past 24 hours, BTC’s price movement has been at three extremes, reinforcing the notion that the asset is still in a consolidation phase with high fluctuations.

Critics like Peter Schiff think that BTC is experiencing a bearish trend, especially since it failed to break the $88,000 resistance level. However, some analysts and Bitcoin supporters remain optimistic that this consolidation is only temporary before a major breakout.

Potential Price Spike: Is it Still Possible?

One figure who remains optimistic about BTC’s future is Matt Hougan, Chief Investment Officer of Bitwise. He once predicted that Bitcoin could reach $1 million or around Rp16.82 billion in the next bullish cycle. According to him, although the price currently appears to be weakening, global economic conditions could actually be the driver of future price increases.

Currently, Bitcoin’s support level is at $83,000 (around Rp1.39 billion) which is considered solid enough to maintain investor sentiment. If BTC manages to hold on and regain momentum, it is not impossible that this crypto will challenge its highest level this year again.

Conclusion

While gold is setting new price records, Bitcoin is still in a consolidation phase with high volatility. Although it has yet to show comparable performance, many crypto market participants believe in BTC’s potential to bounce back in the coming months. Against the backdrop of global economic uncertainty and rising institutional interest, Bitcoin remains an asset worth keeping an eye on, even though it currently does not match the stability of gold as a major hedge asset.

Also Read: XRP Price Outlook After Ripple and SEC Lawsuit Settlement

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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