Veteran Trader Peter Brandt Weighs in on Bitcoin's Dominance over Gold
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Peter Brandt's Analysis:
- Bitcoin has been performing well compared to gold but has not surpassed its 2021 highs.
- Despite reaching $73,750 in March 2024, Bitcoin has not reclaimed its previous peak against gold.
- Brandt emphasized the need for new highs in Bitcoin to confirm a bull trend.
Bitcoin vs. Gold Performance:
- Bitcoin has been outperforming gold recently, reflecting growing investor confidence in its long-term value.
- A BTC/gold chart by Brandt shows Bitcoin's progress in gaining ground against gold.
Current Bitcoin Status:
- At the time of writing, Bitcoin was down 0.4% in the last 24 hours, priced at $67,670.
ETF News:
- BlackRock's iShares Bitcoin Trust has become the world's largest fund for Bitcoin, with around $20 billion in assets since its listing this year.
- The ETF surpassed Grayscale Bitcoin Trust in total assets, holding $19.68 billion worth of the token.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
