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Buy Gold Breakout, Dump Bitcoin Now

By Jordan Roy-Byrne, CMTCommoditiesDec 01, 2023 01:40AM ET
www.investing.com/analysis/buy-gold-breakout-dump-bitcoin-now-200644042
Buy Gold Breakout, Dump Bitcoin Now
By Jordan Roy-Byrne, CMT   |  Dec 01, 2023 01:40AM ET
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Gold
+0.35%
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BTC/USD
+2.70%
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NDX
-0.42%
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XAU/USD
+0.54%
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Gold is breaking out and at the start of a new secular move. This implies the stock market and the Nasdaq, which Bitcoin follows, will be in a secular bear market soon.

Buy Gold Breakout, Dump Bitcoin Now
 

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Buy Gold Breakout, Dump Bitcoin Now

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Comments (9)
John Locke
John Locke Dec 03, 2023 8:40PM ET
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agree. the correlation is obvious
Aleksandar Balimezov
Aleksandar Balimezov Dec 03, 2023 6:47PM ET
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guy was right. look at gold chart now
Andiya mvv
Andiya mvv Dec 02, 2023 6:42AM ET
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Not fully agree with Jordan. Gold AND Bitcoin (and soon all cryptos)  both now in bull market. Its not wise to argue with trend. And Currently(!) Gold and Crypto are more Allies then competitors - they are both  winning from implied money printing by Fed in next year. Bitcoin is just gold on steroids (due to its less market cap). In long term we can argue what is better protected from government printing fiat money (or better received  by government, its also very important) - gold and precious metals  Or cryptos. But its discussion not for this or next year. In next year I think both crypto and precious metals will shine due to inevitable new round of QE or whatever Fed will name it).
Onur Yaldiz
Onur Yaldiz Dec 01, 2023 9:09AM ET
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Just a bullshit.I think gold companies paid him to write this article.
Mark Gesswein
Mark Gesswein Dec 01, 2023 5:10AM ET
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Anyone selling Bitcoin now is a complete fool. The chart says it all. BTC is getting ready to head into the next halvening, which will lead to another explosion upwards in value. Now is the time to be BUYING crypto, not selling it.
Robert Mz
Rob1287 Dec 01, 2023 5:10AM ET
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Thats like saying someone should buy a stock because its going to be twice as much after a 1 for two reverse split.
Tom Scheuermann
Tom Scheuermann Dec 01, 2023 5:10AM ET
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actually no. halving refers to new BTC being rewarded at half the rate as before. it's not a reverse split like a stock might do.
Fa We
Fa___We Dec 01, 2023 5:10AM ET
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We'll see. I still think it could crash. Too many bulls
Joseph DiLustro
Joseph DiLustro Dec 01, 2023 5:10AM ET
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Looking for $40k over the weekend! 🎅
richard rivera
richard rivera Dec 01, 2023 5:00AM ET
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good tonto
rajdeep chakravarty
rajdeep chakravarty Dec 01, 2023 4:29AM ET
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gold and sp are not inverselt correlated in the fed liquidity era
Jared Krebsbach
Jared Krebsbach Dec 01, 2023 4:11AM ET
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Crypto has diverged from the stock market the last two years and largely been in line with precious metals. How much do they pay you?
Kapil Sharma
Kapil Sharma Dec 01, 2023 2:54AM ET
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That's a good overview 👍
 
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