Crypto analyst Titan of Crypto predicts that Bitcoin is expected to surge by 35% to $85,000 by the end of the year, while veteran analyst Peter Brandt forecasts that the Bitcoin-to-gold ratio will rise over 400% before 2025.
(Background recap:
Unexpected volatility: Bitcoin surged to $64,000 followed by a “double kill” for both bulls and bears, while Ethereum surpassed $2,600—key trading highlights for this week.)
(Background information:
Good news! The SEC has approved BlackRock’s Bitcoin ETF for “options trading,” and Bitwise is optimistic about a resurgence of a bull market.)
Bitcoin experienced a brief fluctuation this morning (23) before continuing its upward trajectory, breaking through $64,600 at the time of writing, just a step away from the record of $65,000 set in mid-August.
As the market seems to be buoyed by the Federal Reserve’s interest rate cuts, prominent trader analyst Titan of Crypto expressed a bullish outlook over the weekend on the X platform, stating that Bitcoin’s price is expected to rise approximately 35% by the end of this year, with a mid-term target set at $85,000. He noted:
“The RSI is a classic indicator used to analyze market momentum; when the RSI is above 50, it typically signifies a bullish market.”
He further added, “Historical data shows that when September closes in the green, the fourth quarter usually exhibits a strong upward trend. If Bitcoin can close above $59,000 this month, a year-end bull market is likely.”
Bitcoin-to-gold ratio expected to soar, analysts predict a 400% increase
In addition to Bitcoin’s price movement, veteran analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018 and is the founder of Factor Trading, holds an extremely bullish stance on the Bitcoin-to-gold ratio. He stated on the X platform that, based on the Inverted Head and Shoulders (IH&S) technical analysis, the ratio of Bitcoin to gold is expected to rise by over 400% by 2025. He predicts that the price of 1 BTC could potentially reach 123 ounces of gold by 2025, representing an increase of more than four times compared to 24 ounces on September 22, 2024.
Ethereum’s active addresses drop to a yearly low
In contrast, although Ethereum (ETH) prices continue to rise, data reported by The Block indicates that the number of active accounts on the network has dropped to a yearly low of approximately 385,000, the lowest since December 2023. Recently, Bitwise Chief Information Officer Matt Hougan noted, “No one likes Ethereum right now,” describing it as a potential “contrarian investment” opportunity.
Related reports
Unexpected volatility: Bitcoin surged to $64,000 followed by a “double kill” for both bulls and bears, while Ethereum surpassed $2,600—key trading highlights for this week.
Good news! The SEC has approved BlackRock’s Bitcoin ETF for “options trading,” and Bitwise is optimistic about a resurgence of a bull market.
These 42 altcoins have “outperformed Bitcoin” this year: Meme coins reign supreme, with strong performances in the AI sector and TON.