What is certain, however, is the question of what’s next. To answer that question, Peter Brandt, a legendary trader who has been in the market since the 1970s, has issued a new Bitcoin price update. However, the outlook is based on a comparison between BTC and gold.
As many may know, cryptocurrencies are now perceived by many as a store of value, even dubbed Gold 2.0. Thus, Brandt reports that at current levels, Bitcoin could fall significantly against gold, by 39%, without undermining its long-term bullish outlook against gold.
Meanwhile, the long-term chart shows that the cryptocurrency could rise by more than 477%, highlighting its potential for significant upside.
“I believe in owning both gold and Bitcoin,” Brandt himself concludes.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
