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
Solana Network Conditions Affecting User Experience

Temporary access issues on individual DEX front ends occur during heightened activity on the Solana network, but overall transaction throughput remains stable.

User Reports Execution Issues with LSD on Solana DEXs

Community members report difficulties executing swaps for LSD on certain Solana decentralized exchanges.

UK Military Forces Involved in Sanctions Enforcement Against Iran

The UK Defence Secretary has authorized military bases and the deployment of Royal Navy and RAF assets to support US operations against Iran, focusing on sanctions enforcement and addressing Iran's destabilizing role.

Outset PR Optimizes PR Budgets and Delivers Tangible Results

Outset PR enhances PR campaigns by utilizing data-driven strategies to improve brand visibility.

BNB Shows Renewed Strength After Breaking Key Technical Levels

BNB has regained control by breaking above significant technical levels, indicating bullish momentum.

The Evolution of eSports Betting: From Bitcoin to Altcoins

eSports betting has evolved significantly, moving beyond just Bitcoin to include a variety of altcoins and stablecoins, enhancing the overall experience for users.

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