Bitcoin reached an all-time high of $73,750.07 on March 14, 2024. The lowest intraday price it traded in the past year was $26,011.47 on Sep. 25, 2023. Bitcoin is up 144% year over year. The original cryptocurrency debuted in January 2009. It’s now a major asset with a market cap of $1.26 trillion.

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.

U.S. presidential election looms, the potential impact of the result on Bitcoin price has become a hot topic among crypto enthusiasts.