Compared to gold, which is considered a safe haven, Bitcoin’s value has increased by an impressive 350,000 percent since its launch.
New signals suggest that Bitcoin (BTC) could be on the verge of another price rally and could gain new momentum against the precious metal. Analysis suggests that Bitcoin could appreciate by over 400 percent against gold by 2025. The BTC/GLD chart serves as a barometer that not only compares the performance of these assets, but also measures Bitcoin’s adoption rate against gold. For example, an increase in the ratio reflects that Bitcoin’s market cap is outperforming gold.
Veteran market analyst Peter Brandt says the Bitcoin-gold ratio could increase by more than 400 percent in 2025. Brandt cites a classic technical model that supports the extremely bullish expectation.
This structure, called the inverse head and shoulders (TOBO) formation, occurs when the price forms three consecutive troughs, with the middle trough (the head) being deeper than the other two troughs. This formation forms below a common support line called the neckline.
According to the rules of technical analysis, the TOBO formation is completed when the price breaks above the neckline and an increase in trading volumes is observed. In this case, an increase of the distance between the neckline and the deepest point of the head is expected. Applying this principle to the BTC/GLD ratio chart predicts that the upward target will reach around 123. In other words, as of September 22, 2024, the price of 1 BTC could be equal to 123 ounces of gold by 2025, an increase of over 400 percent compared to 24 ounces of gold.
Bitcoin ETF Market Development
The idea of Bitcoin overtaking gold is particularly supported by its rapid adoption by institutional investors and the launch of Bitcoin exchange-traded funds (ETFs). Approvals of Bitcoin ETFs have generated more than $17.69 billion in inflows since January 2024, and it is estimated that the Bitcoin ETF market could reach $220 billion by 2027, using gold ETFs as a benchmark.
Besides this, experts like Anthony Scaramucci argue that Bitcoin will surpass the market value of gold within the next decade, citing Bitcoin's advantages such as scarcity and portability.
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I EXPLAIN IN DETAILED.
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