JUST IN: Legendary Trader Peter Brandt predicts the #Bitcoin<\/a> price to rise 230% against Gold.<\/p>\n Are you prepared? \ud83d\ude80 pic.twitter.com\/F50fgvm6N1<\/a><\/p>\n — Bitcoin Magazine (@BitcoinMagazine) May 31, 2024<\/a><\/p><\/blockquote>\n Brandt has over 50 years of trading experience and correctly called Bitcoin’s parabolic bull market in 2017. His latest forecast says the bitcoin-to-gold ratio could reach 100 ounces after a consolidation period.<\/p>\n The veteran trader tweeted<\/a>, “Since its inception, Bitcoin $BTC has gained against Gold. This chart shows the # oz. of $GC_F to buy one BTC. The ratio should chop for another 12 to 18 months — then advance to 100 oz of GC to buy a BTC.”<\/p>\n Peter Brandt on X<\/a><\/p>\n<\/figcaption><\/figure>\n Currently, the BTC\/GLD ratio sits around 29, meaning it takes 29 ounces of gold worth $68,000 to purchase one Bitcoin. But Brandt expects this ratio to triple to 100 ounces after Bitcoin’s next consolidation phase ends.<\/p>\n At today’s gold prices, 100 ounces would make one bitcoin worth over $234,000 – representing a 230% price increase.<\/p>\n Brandt has long been bullish on Bitcoin versus Gold. Since its creation in 2009, Bitcoin has massively outperformed the traditional haven asset, gaining over 375,000% against Gold in that time span.<\/p>\n The trader believes Bitcoin still has ample room to run versus Gold despite already seeing such enormous relative gains. The BTC\/GLD ratio chart shows Bitcoin’s long-term uptrend against Gold with room to advance.<\/p>\n Brandt expects Bitcoin to continue significantly outshining Gold in the years ahead. With the approval and successful launch of the US Bitcoin spot ETFs<\/a> earlier this year, its reputation as a digital store of value continues to grow among institutions.<\/p>\n![](\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA2ODIzOTA5MDgzODUwMjEx\/go1xmn0acaaoplt.jpg\")
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