Veteran analyst Peter Brandt is making a bold prediction that is creating a lot of talk in the crypto arena: by 2025, Bitcoin should see its price jump 400% relative to gold.
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He feels that, according to the market patterns witnessed so far, Bitcoin could soar to the equivalent of around 123 ounces of gold.
This rally potential comes in the wake of general price predictions, as Bitcoin is likely to increase by 65% over the next three months and by almost 100% in six months, data from CoinCheckup shows. Over the next year, an increase of 130% is estimated, meaning that confidence in the upward movement of Bitcoin is quite strong.
There has never been a better moment for investors to ponder this question: Will Bitcoin be able to rise above the iconic status of gold as the prime store of value? Never mind if the crypto market cannot resist their bold prophesying; the confluence of key factors appears to portend a triumph for Bitcoin in the years ahead over gold.
When I look at chart of Bitcoin/Gold ratio, here is how I view it: $GC_G $BTC $BTCXAU
1. Continuation inverted H&S pattern, neckline at 32.5 to 1
2. Left shoulder low at 14.2 to 1
3. Right shoulder forming flag
4. Could decline into high teens to 1
5. Target 123 to 1 pic.twitter.com/VKvsDqwkuU— Peter Brandt (@PeterLBrandt) September 21, 2024
Institutional Adoption Fuels Optimism
A significant reason why Bitcoin is likely to rocket soon is because of the increasing institutional investment. Large financial companies, even governments, have begun to view Bitcoin as a store of value akin to old inflation hedges like gold. Such institutional support will be crucial in propelling Bitcoins’ price even higher as capital continues to pour into the market in more considerable volumes.
But perhaps most significantly, decentralized finance has unlocked new use cases for Bitcoin beyond its role as a store of value. By including the underlying cryptocurrencies in the DeFi ecosystem, investors can use their Bitcoin positions in ways gold simply cannot be used.
According to Titan of Crypto, another respected voice in the crypto community, Bitcoin’s unique position within DeFi will only strengthen its value proposition against traditional assets like gold.
Gold’s Rise Could Boost Bitcoin
Interestingly, the forecasted rise in gold prices could…
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