U.Today – Veteran trader Peter Brandt has made an epic new prediction about the future value of gold relative to gold.
According to the analysis, Bitcoin (BTC) will continue to rise against precious metals over the next 12 to 18 months. He predicts that the number of ounces of gold needed to purchase one Bitcoin would eventually reach 100, which would mean a 344% increase in the current value of Bitcoin compared to gold.
Brandt's forecast is supported by a chart he shared, which shows how Bitcoin has historically performed against gold. If Brandt's prediction comes true, Bitcoin fans could see huge returns on their investments as the digital currency outperforms the traditional safe-haven asset.
Tale of two Peters
In his analysis, the trader also mentioned Peter Schiff, a well-known gold investor and critic of cryptocurrencies. Schiff has long argued that Bitcoin is a speculative bubble with no intrinsic value, and favors gold as a more reliable store of value. His skepticism toward Bitcoin has made him a controversial figure in debates over the future of digital currencies versus traditional assets.
As it stands now, the price of the leading cryptocurrency has been set at 29 ounces of gold or $68,000 per BTC. The next 12 to 18 months will be key to seeing if Brandt's bullish prediction comes true.
While Bitcoin continues to gain widespread acceptance and attract institutional interest, the financial community remains divided over its long-term viability and value.
This article was originally published on U.Today.
