{"id":25553,"date":"2024-05-31T15:03:12","date_gmt":"2024-05-31T15:03:12","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/05\/31\/legendary-trader-peter-brandt-predicts-230-bitcoin-price-increase\/"},"modified":"2024-05-31T15:03:12","modified_gmt":"2024-05-31T15:03:12","slug":"legendary-trader-peter-brandt-predicts-230-bitcoin-price-increase","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/05\/31\/legendary-trader-peter-brandt-predicts-230-bitcoin-price-increase\/","title":{"rendered":"Legendary Trader Peter Brandt Predicts 230% Bitcoin Price Increase"},"content":{"rendered":"<p>Renowned commodities trader Peter Brandt predicted Bitcoin could surge 230% against Gold after 12-18 months.<\/p>\n<p>JUST IN: Legendary Trader Peter Brandt predicts the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> price to rise 230% against Gold.<\/p>\n<p>Are you prepared? \ud83d\ude80 <a href=\"https:\/\/t.co\/F50fgvm6N1\">pic.twitter.com\/F50fgvm6N1<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1796534440866242917?ref_src=twsrc%5Etfw\">May 31, 2024<\/a><\/p>\n<p>Brandt has over 50 years of trading experience and correctly called Bitcoin&#8217;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<p>The veteran trader <a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1796216439369830428\">tweeted<\/a>, &#8220;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 &#8212; then advance to 100 oz of GC to buy a BTC.&#8221;<\/p>\n<p>                        <a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1796216439369830428\"><\/a><\/p>\n<p><a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1796216439369830428\">Peter Brandt on X<\/a><\/p>\n<p>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&#8217;s next consolidation phase ends.<\/p>\n<p>At today&#8217;s gold prices, 100 ounces would make one bitcoin worth over $234,000 &#8211; representing a 230% price increase.<\/p>\n<p>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<p>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&#8217;s long-term uptrend against Gold with room to advance.<\/p>\n<p>Brandt expects Bitcoin to continue significantly outshining Gold in the years ahead. With the approval and successful launch of the <a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">US Bitcoin spot ETFs<\/a> earlier this year, its reputation as a digital store of value continues to grow among institutions.<\/p>","protected":false},"excerpt":{"rendered":"<p>Renowned commodities trader Peter Brandt predicted Bitcoin could surge 230% against Gold after 12-18 months. JUST IN: Legendary Trader Peter Brandt predicts the #Bitcoin price to rise 230% against Gold. Are you prepared? \ud83d\ude80 pic.twitter.com\/F50fgvm6N1 \u2014 Bitcoin Magazine (@BitcoinMagazine) May 31, 2024 Brandt has over 50 years of trading experience and correctly called Bitcoin&#8217;s parabolic [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25553","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25553"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=25553"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25553\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}