Gold Mirroring Bitcoin’s Breakout: Insights from Veteran Trader Peter Brandt

Renowned trader Peter Brandt, with more than 40 years of experience in commodities trading, recently shared charts of both Bitcoin and gold on Twitter. In his message, Brandt suggested that gold appears to be emulating the breakout pattern that Bitcoin displayed last year.

According to Brandt, gold is following a classic pattern known as the “expanding inverted triangle,” a formation similar to the one Bitcoin used in 2024. Although he cautioned that his analysis might be off, the chart indicates that gold could experience a breakout later this year much like Bitcoin did between April and October 2024.

The current gold chart shows a descending triangle pattern where the lower boundary is flat around $3,400 while the upper line slopes downward. While Bitcoin eventually achieved an impressive breakthrough, gold might instead break down if it cannot overcome the resistance level it has reached. Brandt is now watching keenly to see if gold can replicate Bitcoin’s successful trajectory.

In related news, Robert Kiyosaki – the celebrated financial educator and author behind “Rich Dad Poor Dad” – tweeted his prediction of an imminent major market crash. As originally outlined in his 2013 book “Rich Dad’s Prophecy,” Kiyosaki now believes that the stock, bond, and real estate markets will suffer a collapse this year, potentially beginning either now or later this summer.

According to Kiyosaki, when the downturn starts, many investors, particularly among baby boomers, will face severe financial setbacks. However, he also shares an optimistic view: this could be the right moment to invest in assets like Bitcoin, gold, and silver, which he claims might create tremendous wealth. He even labeled silver as “the best bargain” at present, predicting its price could triple from its current level of around $35 per ounce. Earlier predictions from him have pointed to Bitcoin reaching between $180K and $200K by 2025.