- Bitcoin showing direction to move for gold
- Kiyosaki: Investors will rush into Bitcoin and gold en masse
In a recent tweet, renowned trader Peter Brandt, who has over 40 years of experience in the commodity trading business, shared Bitcoin and gold charts. The message he communicated to the crypto community is that he believes gold is currently copying Bitcoin’s last year’s breakout chart.
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Bitcoin showing direction to move for gold
The legendary trader believes that gold is using a classical pattern called “an expanding inverted triangle” to compare the current gold price trajectory to that demonstrated by Bitcoin in 2024. Brandt made a disclaimer, saying that he could certainly be wrong about this.
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However, this chart suggests that, similar to Bitcoin’s price behavior in 2024 between April and October, gold is following suit now, and it may face a potential breakout later this year. Gold’s chart is moving within a descending triangle, where a horizontal lower trendline is around $3,400 and the upper trendline is sloping downward. There is a difference between these charts, though.
Here is the way I am reading Gold right now, and I certainly could be wrong. That would be OK, because I don't take the market personally and it doesn't take me the same
Gold has expanding inverted triangle, similar to last year's Bitcoin chart $GC_F $BTC pic.twitter.com/zE6PitQFlW
While Bitcoin eventually managed to stage an impressive breakout, gold may also face a breakdown unless it succeeds in breaking through the resistance line it has reached. Last year, Bitcoin managed to do this. Now, Brandt is watching whether gold will be able to repeat that successful move of the world’s bellwether crypto.
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Kiyosaki: Investors will rush into Bitcoin and gold en masse
Vocal financial education advocate and book author Robert Kiyosaki, who is widely famous for his book “Rich Dad Poor Dad,” tweeted on Monday that he believes his prediction about the biggest market crash is about to come true. He made that prediction in his other book, called “Rich Dad’s Prophecy,” in 2013.
Kiyosaki believes that the stock, bond, and real estate markets will collapse this year, and it has either already started or will happen later this summer. When this begins, he stated in the tweet, millions of his fellow boomers will be wiped out financially. But he said there was good news too — it is time to start investing in Bitcoin, gold and silver, which can make you “extremely rich” in the near future.
He also referred to silver as “the best bargain” right now, predicting at least a 3x surge for it this year from the current $35-per-ounce level. Earlier, he predicted Bitcoin to soar to $180K-$200K in 2025.
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