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Weekly Comic: Bitcoin’s monster rally to record highs leaves gold in the dust

CommoditiesMay 11, 2017 09:23AM ET
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Investing.com - Bitcoin prices cleared the $1,800-level for the first time on Thursday to hit a fresh record high, as a month-long monster rally continues amid bullish noises around the future of the cryptocurrency.

Bitcoin rose to a daily peak of $1,885.00. It was last at $1,841.35 a coin, up around 3.2%. It rose more than $100 in just two days, after clearing $1,700 for the first time on Tuesday.

The digital currency has gained for 18 straight days, rising almost 50% over that time. Since the start of the year, the price of bitcoin has soared 81%.

In contrast, gold prices struggled near their lowest level in eight weeks at around $1,220 on Thursday. Prices of the yellow metal have not topped the $1,500-level since 2013.

Market analysts expect prices of the digital currency to cross above $1,900 in the days ahead and zero in on gold's all-time peak of around $1,927 touched in September 2011.

The current price action has clearly shown that bitcoin has left gold behind in the dust in this race (BTC/XAU).

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

Weekly Comic: Bitcoin’s monster rally to record highs leaves gold in the dust
 

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Comments (4)
Joshua Tallguy
Joshua Tallguy Oct 25, 2018 5:47AM ET
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talk to a mathematician about rare numbers and then you will see that they exist.
Zharfan Dhaifullah
Zharfan Dhaifullah May 11, 2017 10:10AM ET
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i just wonder why people buy something that doesnt exist. i prefer invest in stock than this
Spencer Watkins
Spencer Watkins May 11, 2017 10:10AM ET
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Federal Reserve notes don't exist either... ylYes there are green pieces of paper but it can be printed and expanded by computer with the click of a mouse
Daniel Vermeersch
Daniel Vermeersch May 11, 2017 9:38AM ET
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Time to buy gold mines. Great valuations there. Sell short SNAP, arrogant people on board, they will probably never earn a single dollar, and buy gold mines like HMY traded under 1/2 book value, with low debt, bargain!
Jesse Cohen
Jesse Cohen May 11, 2017 9:38AM ET
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JNUG and GDX looking good
Seqenenre Tao
Seqenenre Tao May 11, 2017 9:26AM ET
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Theyll find a way to manipulate bitcpin down eventually.
Jesse Cohen
Jesse Cohen May 11, 2017 9:26AM ET
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Bitcoin is the new gold exactly because the central bank cartel cant manipulate the price like they do for gold/silver...
 
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