After the price of Bitcoin fell below $100,000 last November, various bearish predictions began circulating in the cryptocurrency community. For some, this collapse marks the end of a bull market, leading to the dreaded bear market. Some forecasts were conservative, putting the pioneering cryptocurrency at a bottom around $50,000, but one analyst in particular predicted a deeper collapse, and this was done using gold charts.
Why Bitcoin Price Might Crash
Crypto analyst The Great Martis shared his predictions on where the Bitcoin price will head next via X (formerly Twitter). The chart shows the downside potential for Bitcoin to fall below $20,000 and eventually reach a bottom around $15,000. It’s not common for analysts to predict such a crash, but it’s interesting why Mathis believes this is possible.
Crypto analysts point out that gold prices, which have seen the asset hit record highs this year, are being driven by speculation. Martis explains that the Federal Reserve’s intervention will continue to push gold prices higher, which in turn could continue to push the price of Bitcoin lower.
Moreover, analysts expect the price of gold to be in the same region as the price of Bitcoin in 2021, rising to the $12,000 area. What’s interesting to note about Bitcoin in 2021 is that this year has seen the digital asset’s most explosive rise to date.
If Bitcoin continues to outperform gold, a five-digit rise in gold would signal a bear market for Bitcoin. A plunge to $15,000 would see the price fall more than 70% from current levels and nearly 90% from its all-time high of $126,000.
In a side-by-side comparison so far this year, gold has performed the better of the two. For context, gold prices have already risen more than 55% in 2025. Meanwhile Bitcoin price plummeted 30%. The price has fallen since hitting $126,000 last October.
Both of these assets continue to lead their sectors, but gold continues to be the gold standard for what investors consider a “safe” investment compared to Bitcoin, which is known for its highly volatile price.
Featured image by Dall.E, chart by TradingView.com
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