Why could gold reversal darken Bitcoin's near history?

The last financial year was devoted to Bitcoin. The story of digital gold came at just the right moment in the midst of a perfect storm of invigorating money, irrational stock market enthusiasm, and more. However, the forecast for gold is starting to change as the major cryptocurrency struggles to protect the market structure from higher peaks and troughs. Could the reversal of the two combined assets break out of the ongoing bullish rally in crypto? Reclaiming gold could raise the bar to $ 5-10k per troy ounce. The butterfly effect is defined as a "small change in one state" that "can cause big differences in a later state". There is no better example of the butterfly effect than billionaire hedge fund manager and philanthropist Paul Tudor Jones calls Bitcoin "the fastest horse in the race against inflation". Related reading | Gold is recovering over 15% against Bitcoin in "Hash Crash" cryptocurrency This quote is intriguing to others who are starting to convert some of their gold assets to Bitcoin. Months later, the outflow of gold to the top copper of the cryptocurrency began to accelerate. During the nearly six-month phase when the cryptocurrency was most popular, it earned over $ 1 trillion in market capitalization, most of which come from precious metals. At the same time, gold's uptrend stopped and reached a new record high. A big mug and a handful? Either way, the bulls' run is not over yet | Source: XAUUSD on TradingView.com At this stage, other commodities that performed well in times of peak inflation, such as wood and steel, exploded. Strangely enough, gold and silver did not move. As the examples above can show, the accumulation of other assets may be a re-accumulation stage before another major increase. A breakthrough in past records could add slightly more to the cost per ounce of "physical Bitcoin". Bitcoin Warning: Metals May Take Action Against Crypto Gold

Join the Discussion

Back to top