The popular analyst has significantly increased his Bitcoin price prediction.

Experienced analyst Peter Brandt, who has become popular with his regular #Bitcoin predictions, claimed that this time Bitcoin could record a significant increase in value against gold.

According to the analysis shared by Peter Brandt on the social media platform X, Bitcoin will continue its rise against gold in the next 12 to 18 months. Predicting that 1 BTC could reach up to 100 ounces of gold within this timeline, Brandt predicts that BTC could increase by 344% against gold.

Brandt supported his prediction by sharing the chart of Bitcoin against gold and emphasized that #BTC has gained value against gold since its market launch. The realization of this prediction means that Bitcoin, which is seen as digital gold, will also gain a significant increase in value against the dollar. Bitcoin is currently valued at $68,000, equivalent to 29 ounces of gold.

On the other hand, while Bitcoin continues to outperform gold, Peter Schiff, one of the prominent gold investors, continues to criticize #Bitcoin by appearing in every decline period. Arguing that Bitcoin has no real value, Schiff says that cryptocurrency only acts speculatively and does not see cryptocurrency as a store of value.

Bitcoin will witness important developments in 2024

In 2024, #Bitcoin gained significant institutional investor adoption with the launch of spot ETF trading in the US. This year, as Bitcoin's reward halving took place, the supply of the crypto asset was halved. Accompanied by all these positive developments, it seems that long-term upward expectations for Bitcoin, which reached its new record level, remain valid.
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