If Peter Brandt Is Right, Bitcoin Could Soar 230% Against Gold
Compared to gold, Peter Brandt anticipates a 230% increase in Bitcoin's value in the next 12 to 18 months.
Inflation graph showing gold relative to bitcoin, as revealed by Willy Woo.
Peter Brandt, a seasoned trader, recently posted on his X account on how Bitcoin has beaten gold since its start. He anticipates that the ratio will "chop" for another twelve to eighteen months, after which he will progress to 100 oz of GC in order to purchase one bitcoin.
At the current price of 29 bitcoins per ounce of gold (GLD), the price of one Bitcoin is $68,000. After the Bitcoin consolidation phase ends, this ratio might increase to 100 ounces, according to Brandt.
Bitcoin vs. Gold is an area where Brandt has long held a strong position. Bitcoin has gained more than 375,000% compared to gold since its launch in 2009, far outperforming the traditional haven asset.
Despite Bitcoin's enormous gains, the trader thinks it still has plenty of space to run against gold. There is ample space for Bitcoin's long-term rally against gold, as shown on his BTC/GLD ratio chart.
Willy Woo also discussed the gold issue, but he frames it in terms of mining advancement.
A graphic showing the development of gold mining technologies was revealed in a post he made on his X account.
According to him, out of 149 billion tons of ore, 213,000 metric tons have been extracted thus far. "We are still early," he joked as he ended his post.
The question of why Woo's chart is nearly ten years old prompted Woo to clarify that the chart in question is actually from OurWorldInData and not his own.
Additionally, he provided a graphic that shows the percentage growth over the past decade, up until the present day. This figure was created by extrapolating the last known annual mining rate from December 2023.
Woo's graph compares the inflation rates of gold and bitcoin (BTC). It's clear that Bitcoin's inflation rate is falling in comparison to gold's.
