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Technical Signal Suggests Gold Is Ready For Revenge Against Bitcoin

The digital gold narrative and fears of hyperinflation looming as the economy weakens and more fiat money is printed, has driven Bitcoin to incredible heights and done so quickly. But considering the cryptocurrency’s history of frightening drawdowns, things could turn at a moment’s notice. One sign that Bitcoin could soon be in some trouble comes from the cryptocurrency’s trading pair against gold, which has reached a TD 9 sell setup on monthly timeframes. The signal, if confirmed, would suggest the current trend is exhausted and a bounce is coming sooner than later. Bitcoin Continues To Beat The Gold Standard At…

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Now Or Never: Litecoin Plummets To Bottom Of Top Ten Crypto Assets

Litecoin is often called the silver to Bitcoin as digital gold, and strangely, the two cryptocurrencies and two precious metals are exhibiting the same behavior where one is lagging behind the other. The lack of momentum in the digital and physical forms of silver have kept the price of both assets at bay for the entire recent bull market in each class. With no growth in Litecoin compared to other cryptocurrencies, the altcoin is only a billion dollars away from losing the top ten cryptocurrency by market cap status – something its held pretty much since its inception. “Digital Silver”…

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FOREX Gold Trading Strategies

FOREX Gold Trading Strategies XAU/USD Basics XAU is a globally-recognized symbol that denotes 1 troy ounce of gold under the ISO 4127 currency standard. The FOREX market sees gold as just another type of currency. The price of the XAU/USD pair tells us how many US dollars are required to buy an ounce of gold. Traders and investors have for long looked at the yellow metal as a hedge owing to its tendency to move inversely with certain currency pairs like the USD/JPY, USC/CHF, GBP/SEK, etc. Gold is popularly referred to as a “safe haven” because its value often increases…

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Bitcoin and Gold Correlation Leads to Matching Cup and Handle Patterns

Bitcoin and gold are regularly compared due to the similarities they share. But could those same similarities be the reason for each asset’s price charts forming the exact same continuation pattern? Across two very different timeframes, both the cryptocurrency and the precious metal are forming a cup and handle. But what exactly does this mean for the market for the rest of 2020? Crypto And Precious Metals Compared Shows The Same Continuation Pattern Since mid-March, markets have been on an almost non-stop ascent. As the dollar fell to multi-year lows, its weakness allowed other top assets to shine. Few assets…

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Gold Nears Short-Term Top, Raising Two Possible Scenarios For Bitcoin

The precious metal gold and its digital counterpart, Bitcoin, have been in a safe haven arms race for two-plus years now. The two assets became even more tightly correlated starting on Black Thursday, as investors scrambled searching for the best hedge against inflation. The original safe haven asset’s uptrend may be coming to an end, or at least preparing for a significant pullback. Could the ongoing correlation make a gold collapse dangerous for crypto? Or will capital flow out of the yellow-colored metal and into Bitcoin?  TD 9 Triggers Sell Setup On Monthly Gold Charts, Massive Change in Trend Possible…

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Check Out Bitcoin And Gold’s “Uncanny” Correlation During Powell Speech

Yesterday, Federal Reserve Chairman Jerome Powell held a speech to talk about inflation and the impact on the economy. During Powell’s speech, the two top hedges against inflation pumped, then almost immediately dumped, faking out investors prepared to act on the bullish breaking news. Comparing the price action between the two assets, the correlation is “uncanny” claims one well-known analyst. But what exactly does this mean for Bitcoin and gold? Inflation Rate Allowed To Run Over 2% Prompts Pump From Hard Assets The United States has its back against the wall thanks to well over a decade of mismanaged monetary…

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Why Whiskey Becoming “Liquid Gold” Highlights Bitcoin’s True Value

In a bizarre twist, investors hoarding rare casks of whisky highlights exactly why Bitcoin is among the most valuable assets to ever exist. But why are so many turning to gold, whisky, and Bitcoin even amidst such economic uncertainty? Supply And Demand Dynamics Make Rare Whisky A Hedge Against Inflation Some people enjoy the finer things in life: cars, cigars, watches, jewelry, and a good Scotch every now and again. Each cask of whisky is unique, aged to perfection, picking up flavors of the cask itself, and retaining certain characteristics of the initial crop of grains. Because of how rare…

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Going Digital: Bitcoin Beats Gold and Silver In Year-To-Date Returns

As the dollar struggles and weakens due to the devastating blow dealt by the pandemic, there’s a battle going on between Bitcoin, gold, and silver for the ideal store of value. By comparing year-to-date performance alone, the cryptocurrency’s ROI nearly matches silver and gold’s combined returns. What does this mean for the crypto market moving forward? Will these assets soon stand toe-to-toe, respected alongside precious metals as potential safe-haven assets? Hard Money: The Dollar’s 2020 Demise Prompts Precious Metal and Cryptocurrency Bull Run Although the trend slowly began back in 2019, investors doubled down in 2020 moving money into gold…

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Gold Tokens Reach Milestone Market Cap; Does This Pose a Threat to Bitcoin?

Bitcoin and gold have been rising in tandem, as the dollar has been falling. It has also driven the growth of the market cap of digital gold tokens, backed by the precious metal commodity, to record highs. What exactly has caused this rapid growth in market cap, and does this pose any threat against Bitcoin? Market Cap of Commodity-Backed Gold Tokens Soars 1000% In 2020 Bitcoin and gold share several key similarities, such as supply scarcity. Bitcoin’s benefits soon begin to outweigh the precious metal, especially in terms of storage and security. Gold existing in a physical form makes it…

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Why Toppling Silver and Gold Prices Could Be Especially Bad for Bitcoin

In March 2020, the stock market dragged cryptocurrencies down to their Black Thursday bottom. Since then, however, soaring gold and silver prices have helped restore interest in Bitcoin and altcoins. These hard, digitally scarce assets are expected to perform similarly to precious metals due to similar supply attributes. Still, it also could cause a disastrous crash in crypto as a result. Silver and Gold Rally Ready For Pullback And Dollar Stages Overdue Recovery The dollar has been in steady decline, with top financial market analysts from the likes of Goldman Sachs and more calling for its eventual demise. The once…

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Ethereum Beats Bitcoin, Gold, and Stocks In Stimulus Check Investment

Stimulus money pouring into assets like stocks, gold, and cryptocurrencies are having a dramatic impact on valuations. But as well as Bitcoin and precious metals are performing, it is Ethereum that has brought the largest return on investment since stimulus checks were issued. Exactly how much would $1,200 invested in Ethereum have earned savvy investors, and how does this stack up to the rest of the market? Ethereum Beats Bitcoin, Gold, and the S&P 500 In Stimulus Check Investment Returns Since 2020 first began, the Federal Reserve’s balance sheet has grown by over $3 trillion and counting. A significant portion…

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Why Bitcoin Ditching Stock Market Correlation For Gold Is Bullish for BTC

Bitcoin price this week exploded from its tightening consolidation range and within a day, broke through resistance at $10,000 and touched $11,400. The breakout followed gold setting a new record, rather than staying lock and step with stocks as the crypto asset has as of late. Comparison charts show that the leading cryptocurrency by market cap may have ditched its correlation with the S&P 500 in favor of the soaring precious metal. If this is the case, this will benefit the entire crypto space – here’s why. Bitcoin Swaps Correlation With S&P 500 For Gold Gold set a new all-time…

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How “Picture Perfect” Macro Uncertainty Will Keep Gold, Bitcoin Trending

This week, the United States Senate introduced another stimulus package that would add more than $1 trillion to the Fed’s already ballooning balance sheet. In response, gold reached a new all-time high, and Bitcoin soared to $11,000. It has created what one analyst calls a “perfect” macro-economic environment for hard, scarce assets like cryptocurrency and precious metals to grow. They also claim that this “picture” perfect scenario could last through the rest of the year. Hedge Funds Are Cleaning Up On The Recent Gold Rush The precious metals market is molten hot. Gold just set a new record, and silver…

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Gold Rally Peaks: 5 Reasons Bitcoin Will Likely Outperform The Precious Metal

Ahead of the United States’ second round of economic stimulus, gold and Bitcoin exploded as the dollar fell. According to financial analysts, after setting a new record the gold rally may be peaking, leaving room for the cryptocurrency market to catch up to precious metals. Here are five important factors why Bitcoin will outperform gold in the long haul and how that may extend into altcoins. Mad Money’s Jim Cramer Says Charts Call For Gold Rally Peak Only a mere few weeks ago, NewsBTC published a story about Bitcoin and gold trading neck and neck in terms of two-year performance.…

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