Legendary trader Peter Brandt believes that one Bitcoin (BTC) chart looks similar to the one printed by the stock market in the mid-1980s before a big breakout. Brandt is looking at the BTC/M1 money supply chart, which compares the value of BTC against all the money in the US economy. He sees similarities between the BTC/M1 chart and a pattern seen in the Dow Jones Industrial Average (DJIA) index during the Great Stagflation of the 1970s. Brandt predicts that if BTC/M1 witnesses a breakout, it would suggest that Bitcoin's value is outpacing the growing amount of US dollars. He also predicts that Bitcoin will outperform gold in the coming months, with a target ratio of 100 ounces of gold to buy one BTC. At the time of writing, an ounce of gold is equivalent to $2,329, suggesting a BTC price of more than $230,000 if the ratio hits Brandt's target. [8d205c50]