Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	16,278,922,542	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

16,278,922,542

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.013162	7.48%	0.189182	0.188953	0.189105

Price Change

Price Change %

Current Price

Bid Price

Offer

0.013162

7.48%

0.189182

0.188953

0.189105

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.189804	0.17602	0.17602	0.17602	0.077142 - 0.192203

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.189804

0.17602

0.077142 - 0.192203

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	18:16:47	832.43	0.189182	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

18:16:47

832.43

0.189182

USD

Price x Volume	Volume	Base Symbol	Related Pairs
580,560.48	3,128,804.47	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

580,560.48

3,128,804.47

Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel

03/08/2024 3:00am

NEWSBTC

In the digital asset world, the only valid rival for Bitcoin asides Ethereum is often regarded as Gold. So far, many analysts and experts have continued to make comparisons between these two assets especially to see what price Bitcoin could trade at if it had the same market cap as Gold. Speaking on a similar topic, Peter Brandt, a trading guru with decades of experience in the trading space has recently shared insights, focusing his analysis on the ongoing rivalry between Bitcoin and gold, positioning them as contenders for the coveted title of the “ultimate Store-of-Value.” Notably, the insights shared by Brandt wasn’t just about market cap or investor preference; it particularly delved into the core functionalities and inherent values of each asset. Bitcoin Vs. Gold Delving into the insight, it is worth understanding the nuances of BTC comparison to gold—a “classic safe-haven asset.” Brandt’s recent examination of the Bitcoin-to-gold ratio provides a critical metric for this comparison. He highlighted that the current ratio stands at 26, suggesting that Bitcoin, despite its volatility, maintains a strong position against gold. Related Reading: Is Bitcoin Poised for a September Price Surge? What Traders Need to Know This ratio, Brandt points out, could fluctuate significantly, potentially decreasing to as low as 16 in response to market movements without undermining Bitcoin’s long-term potential to ascend much higher. Peter Brandt’s analysis goes beyond mere speculation. He emphasizes the importance of flexibility in investment strategies, particularly when dealing with assets as volatile as Bitcoin and as stable as gold. The “Store-of-Value” battle is historic The BTC/Gold chart is a textbook example of classical charting principles Flexibility of interpretation is more important than is dogmatism Currently at 26.x, $BTC could (could, not will) drop significantly vs Gold to as low as 16 without… pic.twitter.com/gduy0fTRtE — Peter Brandt (@PeterLBrandt) August 1, 2024 According to Brandt, the key takeaway from his analysis is the potential for the BTC/gold ratio to experience significant shifts. For instance, although the ratio might see a short-term decrease, Brandt’s long-term view suggests it could soar to 150 or more. This perspective is not just about championing Bitcoin but about advocating for a balanced investment approach. Brandt advises investors to hold both Bitcoin and gold, highlighting the benefits of diversification. By investing in both, traders can mitigate the risks associated with the volatility of cryptocurrencies and the often slower-moving gold market. Brandt noted: I believe in owning both Gold and Bitcoin To be dogmatic on either one is equal to FOOL’S Gold BTC And Gold Market Performance Meanwhile, in the past week, Bitcoin has been on a bearish ride, down by 7.1% in the past 24 hours and roughly 14.8% from its peak above $73,000 in March. Related Reading: Would Bitcoin Fall Below $60,000 Again? Analyst Reveals A Concerning Trend For BTC This negative price performance from the asset has now brought BTC to currently trade at a price of $62,642, at the time of writing. Gold on the other hand over the past week has seen an uptick. Currently the asset trades at $2,424—a slight retrace from its earlier renewed all-time high (ATH) of $2,483 on July 17. Featured image created with DALL-E, Chart from TradingView

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