Author and cryptocurrency specialist Peter Brandt stated that BTC will remain the benchmark in the crypto space and will even surpass the price of gold by the year 2025. Following this post on X, Brandt offered some of his ideas of how he thinks Bitcoin will fare against gold.
Specifically, Brandt predicts that by 2025, bitcoin could rise by more than 400 percent compared to gold. If the pattern plays out as he predicts, the price of the crypto may climb from its current worth of 24 ounces of gold to around 123 ounces by 2025, a 400% increase.
Brandt’s long-term goal is to reach 123 ounces. Using this ratio, Bitcoin would be pegged at $323,000 at the peak price of gold, $2,634. Consequently, if gold increases across the present ATH at $2,634 and breaks through the 123 OZ, it would give rise to a higher leading price for Bitcoin.
Institutional Adoption Boosts Optimism For Bitcoin
Much of Bitcoin’s quick growth has been fuelled by institutional adoption and the introduction of Bitcoin exchange-traded funds (ETFs). Inflows into Bitcoin ETFs have totalled around $17.69 billion since January 2024. Using gold ETFs as a benchmark, projections indicate that the Bitcoin ETF market might reach as much as $220 billion by 2027.
Other industry gurus, like Anthony Scaramucci and Anthony Pompliano, believe that within the next 10 years, Bitcoin will surpass the gold market capitalization due to its scarcity and portability.
Furthermore, Crypto Titan, an expert in cryptocurrency, predicts the cypto to make an explosive move in Q4, with the focus on reaching $85,000 by the end of 2024. In his recent post on X, he predicted a 35% for BTC/USD which he believed was a rising trend for a breakthrough.
The price has been quite constant at $62,000 for some time now while professionals’ forecast concerning the further increase has turned less pessimistic.
BTCUSD Chart Shows Cup-and-Handle Pattern
In addition to this positive outlook for Bitcoin in comparison with gold, it has yet begun revealing some strength indicators compared with the US dollar.
This same cup and handle has also been formed on the weekly Bitcoin to UD chart. These kinds of price retracements are common and typically occur before a breakthrough to new highs.
The trend strength indicator, the ADX, is declining at 23.72. This decrease suggests that a potent new wave could very soon appear instead of the observed consolidation. If +DI continues to ascend and -DI continues to plunge, Bitcoin can experience another upsurge.
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