Analyst's bullish comparison: Gold or Bitcoin?
Experienced analyst Peter Brandt suggested that the Bitcoin (BTC) price will gain value against gold in the coming months.
According to Brandt's technical analysis, BTC's market value is about to gain momentum against gold, a traditional investment tool. BTC has increased by 350 thousand percent since its launch.
The analyst, who claimed that BTC will gain nearly 400 percent against gold, supported his prediction with the graphic analysis he created.
Peter Brandt, who examined the BTC/GLD chart, argued that BTC will rise against gold in 2025.
Referring to the formation called Inverse Head and Shoulders (IH&S), the analyst stated that the formation in question indicates a breakout. According to the IH&S formation, the price of 1 BTC may be equal to 123 ounces of gold in 2025. Current data shows that 1 BTC is equivalent to 24 ounces.
A bull flag is seen in the chart created by Brandt. The formation in question indicates a sharp rise in the event of a breakout.
The â1 BTC = 32 ouncesâ level was shown as an important resistance point. According to the analysis, while BTC is gaining strength, goldâs loss of blood may facilitate the breakout.
Estimates that BTC, shown as digital gold, will surpass gold have been associated with the performance of spot Bitcoin ETFs. ETFs have hosted over $17.69 billion in inflows since January. Based on these inflows, experts predict that spot $BTC ETFs could grow to $220 billion by 2027.
Anthony Scaramucci, on the other hand, predicts that $BTC will surpass the market value of gold with its limited supply and portability advantages.
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