Peter Brandt’s forecast for Bitcoin price compared to gold
Legendary commodity trader Peter Brandt, known for his over 50 years of extensive trading experience and his accurate prediction of the Bitcoin bull market in 2017, predicts a sharp rise in the price of Bitcoin relative to gold.
Brandt predicts that the Bitcoin-to-gold ratio could rise from the current 29 to 100 within the next 12 to 18 months. This means that it would take 100 ounces of gold to buy one Bitcoin, suggesting a potential 230% increase in Bitcoin's value relative to gold. Taking current gold prices into account, this ratio would value one Bitcoin at over $234,000.
Basis and analysis of the forecast
Brandt's prediction is based on historical trends that show significant outperformance over gold since Bitcoin's launch in 2009. Bitcoin has since risen by more than 375,000%.
His positive view is further supported by the growing acceptance of Bitcoin as a digital store of value, especially after the successful launch of US Bitcoin Spot ETFs (Exchange Traded Funds) earlier this year.
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