TechFlow news — On September 22, Peter Brandt, renowned chart analyst and founder of Factor Trading, posted on X predicting that the Bitcoin-to-gold ratio could rise by over 400% by 2025. Brandt, who successfully forecasted Bitcoin's significant downturn in 2018, is highly regarded in the market. As of September 22, 2024, 1 BTC is approximately equivalent to 24 ounces of gold.
Brandt's analysis is based on a classic technical chart pattern—the Inverse Head and Shoulders (IH&S). This pattern consists of three consecutive troughs, with the middle trough (the head) lower than the two outer troughs (left and right shoulders), forming beneath a common support line known as the neckline. The IH&S pattern completes when price breaks above the neckline accompanied by rising volume, signaling a potential substantial upward move.
According to Brandt’s analysis, the key technical levels for the Bitcoin-to-gold ratio are as follows:
- Neckline at 32.5:1
- Left shoulder low at 14.2:1
- Right shoulder currently forming a flag consolidation
- Potential pullback to around 19:1
- Target level at 123:1
