According to analysis, Bitcoin (BTC) is set to keep on going up against precious metal over the next 12 to 18 months. He foresees that the number of gold ounces needed to buy one Bitcoin would eventually reach 100, which would mean a 344% rise in Bitcoin’s current value compared to gold.
Brandt’s forecast is backed up by a chart he shared, showing how Bitcoin has performed historically against gold. If Brandt’s prediction comes true, Bitcoin fans could see some big returns on their investments as the digital currency outperforms the traditional safe-haven asset.
As it stands now, the price of the major cryptocurrency has settled at 29 ounces of gold or $68,000 per BTC. The next 12 to 18 months will be key to seeing if Brandt’s bullish prediction comes true.
While Bitcoin continues to gain mainstream acceptance and attract institutional interest, the financial community remains divided on its long-term viability and worth.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
