Senior analyst: Bitcoin to gold exchange rate may rise by more than 400% next year

Odaily News Peter Brandt, a veteran chartist and founder of Factor Trading who successfully predicted the 2018 Bitcoin crash, said the Bitcoin-to-gold ratio could rise by more than 400% by 2025. Brandt cited classic technical chart analysis to support his extremely bullish expectations. According to a technical pattern called the Inverted Head and Shoulders (IH&S), this pattern forms when prices form three consecutive troughs, with the middle trough (called the head) being deeper than the other two troughs (called the left and right shoulders). This pattern forms below a common support line (called the neckline). The IH&S pattern disappears when prices break through the neckline and trading volume rises. At this point, the price rises by an amount equal to the maximum distance between the neckline and the deepest point of the head. For the Bitcoin-to-gold exchange rate, the price of 1 BTC could be equal to 123 ounces of gold as early as 2025, a rise of more than 400% from 24 ounces on September 22, 2024.