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    Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry โ€” from price analysis to blockchain disruption. During this period, heโ€™s authored more than 3,000 news articles for Coinpedia News.

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      Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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    Gold Rally Sets the Stage for Bitcoin Price to Hit $150K Says Top Analyst

    Story Highlights
    • Gold Hits Record High: Gold surges to $3,725 with Chinaโ€™s soaring demand and Fed rate cut hopes fueling a 40% yearly rally.

    • Bitcoin May Follow: Analyst Ted predicts Bitcoin could hit $150K after a potential shakeout, mirroring goldโ€™s breakout pattern.

    Gold has been shining brighter than ever, climbing to a record high of $3,725 and posting a 40% gain this year. While traditional investors celebrate the Gold rally, crypto watchers are paying close attention too.ย 

    According to top analyst Ted, Bitcoin may be next in line to mirror Goldโ€™s powerful rally, with a target of $150,000 by the end of Q4.

    Goldโ€™s ATH Rally Sets the Stage

    Gold prices climbed another 1% today, setting fresh records as momentum from an earlier breakout continues to push higher. A key driver behind this rally is Chinaโ€™s growing hunger for gold. 

    Non-monetary imports surged 64% in July to 104 tonnes, well above the five-year average. This strong demand from households, jewelers, and investors has kept the worldโ€™s largest bullion market firmly in buying mode.

    At the same time, expectations of another Federal Reserve rate cut in October are keeping sentiment bullish for gold.

    For Ted, this unstoppable momentum is more than just a story about gold. He believes it could be a preview of what Bitcoin is about to experience.

    Bitcoin Set to Mirror Goldโ€™s Path

    Looking at historical charts, Ted highlighted how Bitcoinโ€™s current structure closely resembles goldโ€™s behavior before its breakout rally. In both cases, prices built up pressure under long-term resistance levels before exploding higher. 

    Bitcoin now appears to be tracing the same pattern.

    Bitcoin and gold price chart

    However, the analyst expects one final shakeout before the real move begins. He warned of a potential 10%โ€“15% correction in Bitcoin, which could help flush out greedy longs and overleveraged traders. 

    Once that happens, he believes the stage will be set for a major rally, sending Bitcoin toward $150,000 by the end of this year.

    Bitcoin Price Outlook

    As of now, Bitcoin is trading near $112,627, down 3% in the last 24 hours, with its market cap standing at $2.24 trillion.ย 

    Despite the dip, Tedโ€™s analysis suggests that Bitcoinโ€™s best days may still be ahead, mirroring goldโ€™s path from consolidation to record-breaking highs.

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    FAQs

    Will Bitcoin follow gold’s rally?

    Analysis suggests Bitcoin’s current price pattern is similar to gold’s before its breakout, potentially setting the stage for a significant rally by the end of the year.

    What is the Bitcoin price prediction for Q4?

    Based on the mirroring gold rally, one prominent analyst prediction sets a Bitcoin price target of $150,000 by the end of the fourth quarter.

    What is driving the comparison between gold and Bitcoin?

    Both assets are seen as alternative stores of value. Gold’s current explosive breakout is being used as a chart pattern model for predicting Bitcoin’s next major move.

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