According to TechFlow, on September 22, Peter Brandt, a well-known chart analyst and founder of Factor Trading, published an article on the X platform, predicting that the ratio of Bitcoin to gold may rise by more than 400% by 2025. Brandt successfully predicted the sharp drop in Bitcoin in 2018, so his prediction has attracted great attention from the market. As of September 22, 2024, 1 BTC is approximately equal to 24 ounces of gold.
Brandt's analysis is based on a classic technical chart pattern, the Inverted Head and Shoulders (IH&S). The pattern consists of three consecutive troughs, with the middle trough (the head) being deeper than the two side troughs (the left and right shoulders), forming below a common support line (the neckline). When prices break through the neckline on rising volume, the IH&S pattern is completed, signaling a possible sharp rise.
According to Brandt’s analysis, the key technical indicators for the Bitcoin to Gold ratio are as follows:
Neckline is at 32.5:1
Left shoulder low is 14.2:1
The right shoulder is forming a flag pattern
Possible callback to around 19:1
The target price is 123:1
