Digital vs physical: Bitcoin Tests old Ath & # 39; against Gold & # 39; again

The digital gold story has sparked corporate interest in bitcoin in part, pausing the bull run in bullion. Only recently has the story broken, with cryptocurrencies down 50% in the blink of an eye.

The Cryptocurrency collapse sent bitcoin back to retest its previous record level against gold, as resistance turned to support and a stronger upward trend could indicate it was not yet over. However, the old “standard” of Safe Harbor is decidedly bullish, making the future between the two entities much more mysterious.

Theorizing The Digitally Transportable Base Metal
Bitcoin was first developed by Satoshi Nakamoto under the pseudonym of the supposedly deceased geliştirilen. Nakamoto developed an entity that included several properties, such as gold.

Satoshi’s earliest works shed light on why a mysterious person or group decided to do so.

“As a thought experiment, imagine that the base metal is as little as gold, but […] portable by communication channel”

This thought experiment was successful. But technology has taken time to build the same level of confidence as gold teams.

Read More / Tech Signal Shows Gold Ready To Take Revenge On Bitcoin 

The digital gold story revealed the similar qualities of the cryptocurrency and absorbed the brilliance of the precious metal’s rise. But now the two entities have come to a standstill, leading to a retesting of bitcoin’s previous record level on gold.

Bitcoin retests old record high gold resistance / source: xaubtc on TradingView.com
Bitcoin To Face Battle Over Digital Gold Dominance
No, the chart above is not the BTCUSD inverse chart, as many analysts do, where the price movement becomes less clear. Instead, it is a xaubtc chart showing the price per ounce of gold in BTC. 0.052, multiplied by the price for bitcoin, corresponds to the price per ounce of gold of about 1800 dollars.

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