Peter Brandt once again very bullish on Bitcoin and gold as correction ends

Peter Brandt has been discussing stock market charts since 1980 and has years of experience discussing the Bitcoin price. He is a legend on Wall Street as he’s written several books on commodities trading and how to read charts.

In November last year he told his 700,000 followers that gold, Bitcoin and Ether looked very promising. The price of Bitcoin has since doubled (as loyal followers of this site know) and Peters is very bullish for the remainder of 2024 as well.

Pullback for Bitcoin was normal

Peter had a lot to say about the Bitcoin correction of the past week. He actually thought that in the long term, the correction wasn’t a major one.

This correction is healthy. BTC is in a major bull trend. The H&S is negated if $69k is reclaimed (not $59 - fat fingers). https://t.co/K7D0xwtiLO

— Peter Brandt (@PeterLBrandt) March 19, 2024

The pullback we saw after the top of $74,000 was touched was also very normal according to him and the next goal is to trade above $69,000 again. If that doesn’t work, we could look at $59,000, but as mentioned, Peter is rather bullish.

The talk among traders is the big correction in Bitcoin. $BTC
I look at the long term chart, and say, “What correction?” I don’t see a correction.
Yet, for suckers betting on memes and #crapcoins with leverage, any correction will = rekt pic.twitter.com/0DdVz6yYoE

— Peter Brandt (@PeterLBrandt) March 20, 2024

He also still sees a very bright future for Ether. He is much less lyrical about all other coins though.

Peter expects Bitcoin’s dominance (the market cap of Bitcoin compared to altcoins) will rise to some 65%. That would mean that there will be less trading of altcoins.

Gold could rise 8%

Gold is also one of Peter’s favorite investments. With a simple graph he showed that his expectation is a jump of some 8% in the coming weeks.

Attention all traders
Time to stand at attention and salute#Gold $GC_F pic.twitter.com/Y36r857RaE

— Peter Brandt (@PeterLBrandt) March 20, 2024

Gold is indeed having a fantastic 2024 so far. We will certainly keep you informed in the coming weeks whether Peter’s predictions came true.