Peter Brandt weighs Bitcoin sale for gold

• Veteran trader Peter Brandt said he is considering selling part of his Bitcoin holdings to increase his exposure to gold.
• Brandt believes gold could outperform Bitcoin based on a technical reversal in the gold-to-Bitcoin ratio.
• Despite his near-term caution, Brandt continues to project a long-term Bitcoin peak between US$300,000 and US$500,000 by 2029.

Peter Brandt, a veteran commodities trader, said he is considering selling part of his Bitcoin (CRYPTO:BTC) holdings and reallocating the proceeds into gold after identifying what he believes is a technical reversal favouring the precious metal.

Brandt said the gold-to-Bitcoin ratio appears to be forming a rounding bottom pattern after Bitcoin's years of outperformance, leading him to conclude that gold could outperform the cryptocurrency in the period ahead.

"I am contemplating selling some of my Bitcoin and going to Gold with the money. Looks to me that Gold is going to gain substantially on Bitcoin," said Brandt.

Brandt also reiterated his view that Bitcoin may not reach a tradable market low until September or October, citing historical market cycles, while maintaining his longer-term projection that Bitcoin could peak between US$300,000 and US$500,000 in 2029.

Bloomberg Intelligence strategist Mike McGlone has also expressed caution, arguing that Bitcoin may be signalling a broader post-inflation deflation cycle, while noting that gold has recently recorded its highest 60-day correlation with the S&P 500 since 1975.

Brandt's short-term outlook contrasts with his long-term forecast, as he expects further market weakness before a potential recovery driven by historical price cycles.

The differing views from Brandt and McGlone highlight ongoing debate over whether investors should favour traditional safe-haven assets such as gold or maintain exposure to Bitcoin as macroeconomic conditions evolve.

At the time of reporting, Bitcoin price was $63,800.73.