Gold Mirrors Bitcoin’s 2024 Breakout Pattern, Says Veteran Trader Peter Brandt

Veteran trader Peter Brandt, with over four decades of experience in commodity trading, recently tweeted that gold may be following the same breakout pattern Bitcoin demonstrated in 2024. Sharing comparative charts of both assets, Brandt highlighted that gold’s current price movement resembles Bitcoin’s behavior from April to October last year. He pointed to a technical pattern known as an “expanding inverted triangle,” suggesting gold might be gearing up for a similar breakout — but added a disclaimer that he could be wrong.

Gold’s current chart pattern shows it trading within a descending triangle, with a key horizontal support level around $3,400 and a downward-sloping resistance. Brandt noted that while Bitcoin successfully broke out of a similar pattern last year, there is no guarantee gold will do the same. A failure to breach resistance could result in a breakdown instead of a rally.

Meanwhile, financial author Robert Kiyosaki echoed bullish sentiment on gold and Bitcoin. On Monday, Kiyosaki warned that a major market crash could be imminent, referencing his 2013 book Rich Dad’s Prophecy. He believes stock, bond, and real estate markets will collapse this year, possibly by summer, financially devastating millions of retirees. However, he views this as an opportunity, urging investors to pivot to Bitcoin, gold, and silver — assets he believes will surge amid the chaos. Kiyosaki reaffirmed his $180,000–$200,000 Bitcoin prediction for 2025 and called silver the “best bargain,” expecting it to triple from its current $35 price.

With legendary voices aligning on crypto and precious metals, market watchers are closely eyeing whether gold will indeed follow Bitcoin’s breakout path.