Bitcoin gains momentum against gold as its market capitalization surges by 350,000% since its inception. Analyst Peter Brandt predicts a potential surge in the Bitcoin-to-gold ratio by over 400% in 2025, driven by an inverse head-and-shoulders pattern. However, critics argue that technical patterns do not guarantee outcomes.

Bitcoin [BTC] has finally broken past the critical $60,000 threshold, now trading at $63,450, marking a significant milestone after weeks of resistance. Despite a minor 0.02% dip in the last 24 hours, technical indicators like the RSI continue to reflect strong bullish momentum, currently positioned above the neutral level at 62.Bitcoin gains momentum against goldBeyond the short-term price action, Bitcoin’s market capitalization has surged by a staggering 350,000% since its inception, significantly outpacing its traditional safe-haven counterpart, gold. Emerging signals suggest that Bitcoin may be on the cusp of another extended price rally, underscoring its growing momentum against the precious metal. For those unaware, the BTC/GLD ratio tracks the performance of Bitcoin relative to gold. This serves as a key metric to gauge Bitcoin’s adoption and market cap dominance, highlighting how the digital asset has increasingly outperformed gold over time.Shedding light on the same, Veteran analyst Peter Brandt took to X noted, What is Brandt trying to explain?Here, Brandt has predicted a potential surge in the Bitcoin-to-gold (BTC/GLD) ratio by over 400% in 2025, driven by a classic technical pattern known as the inverse head-and-shoulders (IH&S). This formation occurs when a price chart shows three troughs, with the central trough (the head) being deeper than the two flanking ones, known as the left and right shoulders. These troughs form below a common support line called the neckline, which serves as a pivotal breakout point. According to technical analysis rules, an IH&S pattern is validated when the price breaks above the neckline, usually accompanied by increasing trading volumes. This breakout often leads to a rally equal to the maximum distance between the neckline and the head’s lowest point. Applying this analysis to the BTC/GLD ratio chart, Brandt projected an upside target of around 123, meaning that one Bitcoin could be valued at 123 ounces of gold by 2025—a remarkable increase from the current 24 ounces as of September 2024. Critics dismiss Brandt analysisWhile many concurred with Brandt’s analysis, long-time Bitcoin critic Peter Schiff offered a dissenting view. Schiff argued that although technical patterns can be informative, they do not guarantee outcomes. He warned that there is always a risk that the expected move—in this case, a significant increase in the BTC/GLD ratio—may fail to materialize, potentially leading to substantial losses instead. In fact, recently, Schiff also argued that Bitcoin does not qualify as money, and stated, However, this remark faced sharp criticism from Strike’s Jack Mallers, who countered it best when he said,