Peter Brandt compares Bitcoin chart to Gold's, uncertain if it will mimic historical performance

From Investing.com: 2024-06-18 15:00:24

Veteran trader Peter Brandt questions if Bitcoin’s current chart will mimic Gold’s inverse head and shoulders pattern from 2008-2009 or 2020-2024. Bitcoin currently forming right shoulder, sparking interest in potential future price movements. Brandt compares Gold’s substantial gains in 2008-2009 to lesser gains in 2020-2024. Bitcoin falls to $64,441 as outflows from digital-asset products and U.S. borrowing costs weigh down the market. Traders watch for signs of which historical pattern Bitcoin may follow, uncertain if it will mirror Gold’s performance.

Read more at Investing.com: Legendary Trader Peter Brandt Makes Crucial Bitcoin-to-Gold Comparison By U.Today