bullish

Donald Trump

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin [BTC] is outperforming gold, with an analyst predicting an additional 122% rally against the global reserve asset.</li> 
 <li>The market’s expectation of a US BTC reserve has increased by 10 points.</li> 
</ul> 
Bitcoin [BTC] has been outperforming gold since November, with predictions of an extra 122% rally against the global reserve asset. 
According to technical chartist and trader, Peter Brandt, one might soon need 89 ounces of gold to buy 1 single BTC coin. 
<h2 id="brandt-s-projection">Brandt’s Projection</h2> 
Brandt’s projection is based on the bullish cup and handle formation on the BTC/gold ratio chart. 
The BTC/gold ratio, which tracks the relative performance of BTC against gold, recently hit a new high of 39 and broke above resistance, which could make the bullish 89 target possible. 
Since November, BTC has outperformed gold by 60%, with the BTC/GLD ratio soaring from 25 to 40. 
The impressive BTC performance was accelerated by the win of pro-crypto Donald Trump in the US presidential elections. 
<h2 id="us-btc-reserve">US BTC Reserve</h2> 
One of the upcoming administration’s pledges was to set up a national BTC reserve, which many market insiders believe could happen on day 1. 
According to Strike CEO Jack Mallers, the president-elect was exploring a ‘day 1 executive order for a BTC reserve.’ 
This could accelerate Brandt’s breakout projection of 89 for the BTC/gold. This implied about 230K per BTC if hit. 
At press time, prediction markets were pricing a 35% chance of Donald Trump creating a BTC reserve within the first 100 days of his administration. 
This was a 10% jump from last week’s odds, suggesting the market was increasingly optimistic of such an outcome. 
If created, BTC could aggressively compete with gold as a global reserve asset. 
Whether Brandt’s $230K per BTC target will be hit this cycle remains to be seen. 
Most asset managers had a $150K-$200K price target for this cycle. 
Meanwhile, BTC hit a new all-time high of $106.6K and was valued at $105K ahead of the Fed rate decision on the 18th of December.

Brandt Forecasts Bitcoin to Eclipse Gold Performance by 122%

Table of Contents

CoinEagle.com

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