Bitcoin Signal Predicted Stock Market Rally in 1980s! 🚀😱

The Latest in Bitcoin Analysis: A Trader’s Perspective 📈

Renowned trader Peter Brandt recently pointed out a striking resemblance between a Bitcoin (BTC) chart and a stock market chart from the mid-1980s, hinting at a potential breakout on the horizon.

Comparing Bitcoin to M1 Money Supply 📊

Brandt shared his insights on the BTC versus M1 money supply chart, which highlights the value of BTC in comparison to the total money circulating in the US economy.
The chart indicates a correlation between Bitcoin and the eventual decline of fiat currencies like the USD, with the current ratio still below the peak seen in December 2017.

Parallels with Dow Jones Industrial Average 📉

Brandt drew parallels between the BTC/M1 money supply chart and a pattern observed in the Dow Jones Industrial Average during the 1970s, marking the end of a period of economic stagnation.
He noted similarities in chart structures and highlighted the presence of an inverted head and shoulders formation, signaling a potential bullish trend for Bitcoin.

Predictions for Bitcoin’s Future Performance 🚀

Brandt predicts that Bitcoin will likely outperform gold in the coming months, based on historical data and trend analysis.
According to his projections, the ratio of gold ounces required to purchase one BTC is expected to increase in the next 12 to 18 months, potentially reaching 100 ounces for one Bitcoin.

Implications for Price Action and Market Trends 📉📈

If Brandt’s forecast holds true, an ounce of gold, currently priced at $2,329, could translate to a Bitcoin value exceeding $230,000 once the target ratio is achieved – Bitcoin is currently trading at $69,055.