A renowned trader, Peter Brandt, recently made a bold prediction about Bitcoin's potential price surge compared to gold, expecting a significant increase of 230%. Brandt foresees fluctuations in the gold to Bitcoin ratio over the next 12 to 18 months, projecting a milestone of 100 ounces of gold per Bitcoin. While the accuracy of Brandt's forecast remains to be seen, a retrospective analysis of the price history of Bitcoin and gold indicates a consistent trend favoring Bitcoin's value over gold. In 2017, Bitcoin surpassed gold in price, reaching its peak of $19,649 on December 17. Even during the challenging 2018-2019 bear market, Bitcoin maintained a higher valuation than gold, exemplified when Bitcoin traded at around $3,126 in December 2018. In contrast, gold's price peaked at $1,283 per ounce by December 2018. Despite volatility, both assets recovered in 2023 after a challenging 2022. By May 2024, gold hit a record high of approximately $2,449 per ounce, trading around $2,320 presently. In comparison, Bitcoin reached a high of $74,000 before declining to $67,210 at the recent time, translating to about 29 ounces of gold to own one Bitcoin at current rates.
Impact of Bitcoin and Gold Price Trends

by Giorgi Kostiuk
2 years ago

Other news
Bitcoin Accumulation Rises Despite Market Downturn

Bitcoin accumulation rises among seasoned investors despite market downturn.

Tesla Stock Declines Amid xAI Safety Concerns

Tesla's stock has been under pressure due to concerns about the safety and reliability of xAI's Grok AI tools, with shares falling 2% recently.

Federal Agencies Voice Concerns Over Elon Musk's xAI Tools

Federal officials express concerns about the safety and reliability of Elon Musk's xAI tools, particularly regarding Grok's security and manipulation susceptibility.

Long-Term Bitcoin Holders Show Resilience Amid Market Weakness

Long-term Bitcoin holders are showing strong conviction by refusing to sell despite ongoing market pressures.

Ethereum Signals Major Bullish Breakout

Ethereum is showing signs of a significant upward movement after breaking out of a corrective price channel.

Vitalik Buterin Unveils Ethereum's Ambitious Roadmap for Scaling

Ethereum cofounder Vitalik Buterin has released a detailed technical roadmap aimed at increasing the network's transaction capacity by up to 1,000 times.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter