Could Gold & BTC Hit $1k at the Same time?

• The $1k mark is very much a possibility as all the economies collapse with a recession being just around the corner. 
• One analyst has said that BTC and gold could be racing each other down as he has seen support below $1.4k for the traditional metal.

The $1k mark is very much a real possibility for the leading cryptocurrency as all the events worldwide have been seeing economies collapse with a recession being just around the corner. 

One analyst has said that BTC and gold could be racing each other down as he has seen support below $1.4k for the traditional metal.

In a tweet posted earlier this week on 16th March, Peter Brandt gave caution that if levels of $1,350 failed to hold, XAU/GOLD could fall to three figures - or very close by.

There should be support for Gold prices under $1400. If price drops below $1300, then $1,050 here we come. #GOLD $GC_F pic.twitter.com/rA1jUYK1W8

— Peter Brandt (@PeterLBrandt) March 16, 2020

Brandt further gave warnings to investors that Bitcoin would drop below $1k unless a “pie in the sky” chart setup was able to save the currency. 

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

He didn’t say when such a thing would take place though. He did go and comment on Tether though:

“Tether is nothing but a phony fiat currency.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!