Legendary commodities trader Peter Brandt has drawn a striking comparison between the recent price movement of gold and Bitcoin’s breakout trajectory in 2024. According to a chart shared by Brandt on social media, gold appears to be forming a similar technical pattern to that of Bitcoin before its notable surge.
The pattern, which is called an “expanding inverted triangle,” is traditionally associated with a significant move in the market. After more than 40 years of trading, Brandt explained how the formation might take shape but said the way it actually happens could be different from his prediction. Although the disclaimer exists, the study seems to have rekindled interest in gold among technical analysts and market watchers.
From April to October 2024, after remaining stable for some months, Bitcoin went up when it broke out of that same pattern. Right now, Brandt thinks that gold is behaving like it did before and may soon have a big upmove if it can break past the current resistance level.
Gold’s price is, at the moment, moving inside a descending triangle. The lower edge stays flat around $3,400, but the upper trend goes from top to bottom. Because gold’s chart repeats parts of Bitcoin’s early history, it has made people wonder if gold could revive just like Bitcoin did.
Growing Market Concern as Kiyosaki Warns of Major Financial Collapse
Meanwhile, author and financial educator Robert Kiyosaki has issued another stark warning about a potential collapse in traditional markets. In a recent tweet, he pointed to what he calls the imminent materialization of a prediction he made in his book “The Rich Dad’s Prophecy.”
Kiyosaki’s view is that the crash in stocks, bonds, and real estate could have started or could start this summer. He points out that such slow economic growth would put many baby boomers in serious financial trouble. He suggested that this situation could open up new chances for people investing in alternative assets.
He told investors they should invest in Bitcoin, gold, and silver, which he considers set to gain a lot during these troubled times. Kiyosaki calls silver a good buy now, as he thinks its price might go up to as much as $100 per ounce in the future. For Bitcoin, he continued to be optimistic, foreseeing it could rise to between $180,000 and $200,000 in 2025.
As both Brandt and Kiyosaki share bullish views on gold and Bitcoin, the attention of market participants is shifting toward these assets. According to their analysis, people are becoming more uncertain about traditional financial assets with current economic changes.
Also Read: Robert Kiyosaki Warns of Looming Market Crash, Predicts Mass Shift to Bitcoin
