Gold may not be able to hold onto Bitcoin's coattails for much longer

avatar

Gold is old, Bitcoin is now

We have all heard how correlated bitcoin and gold have been over the years, but that may be changing.

I read an article in cointelegraph this morning talking about bitcoin and gold are breaking correlations.

Then you have charts like this one:

image.png

(Source: https://twitter.com/Travis_Kling/status/1309333646877155329/photo/1)

It looks like bitcoin broke out of the downtrend and then retested that downtrend line.

For those familiar with technical analysis, this is a very common sign just before the price continues hihger.

Often in a big way.

There are a lot of reasons to like bitcoin over gold in the near term, and medium term which I won't get into here.

Just reiterating a favorite phrase of mine...

Gold is old, bitcoin is now.

Posted Using LeoFinance Beta



0
0
0.000
0 comments