Veteran trader Peter Brandt has made an epic new prediction about Bitcoin’s future value relative to gold.
According to analysis, Bitcoin (BTC) is set to keep on going up against precious metal over the next 12 to 18 months. He foresees that the number of gold ounces needed to buy one Bitcoin would eventually reach 100, which would mean a 344% rise in Bitcoin’s current value compared to gold.
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, favoring gold as a more reliable store of value. His skepticism toward Bitcoin has made him a controversial figure in debates about the future of digital currencies versus traditional assets.
As it stands now, the price of the major cryptocurrency has settled 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.
