Peter Brandt Predicts Bitcoin Correction May Continue

Investor Peter Brandt advocates for the validity of classical chart analysis in the Bitcoin market. By comparing a soybean chart from 1977 with the Bitcoin chart, he noted that similar technical structures are repeating. The chart shared by Brandt highlights an expanding top formation; as prices rise, volatility increases, with peaks being pushed higher while troughs drop lower. This situation indicates a deepening divergence between buyers and sellers. Brandt believes that in the soybean example, the price fell below the lower trend line of the formation, and a similar sequence is being followed in Bitcoin. He stated that BTC has dropped below support after forming a structure close to cycle peaks by the end of 2025, entering a prolonged correction process. He pointed out that Bitcoin reached its first downward target at the beginning of summer, but a permanent bottom formation has not yet been observed. Additionally, he suggested that gold could outperform Bitcoin in the short term. Brandt argued that based on the XAU/BTC ratio, gold is poised to perform better compared to BTC and considered selling some Bitcoin assets to shift towards gold. He also reminded that his biggest mistake in the past was not buying enough Bitcoin when it was around $400 and holding it for a long time.