BOLD · · 1 min read

The Bitcoin and Gold Chart Book - November 2022

The Bitcoin and Gold Chart Book - November 2022
Disclaimer: Your capital is at risk. This is not investment advice.

ByteTree BOLD

Who would think bitcoin is a buy right now? Our model is telling us that the bitcoin network has ceased to contract and is back in growth mode. It is worth remembering that bitcoin has nothing to do with the failing crypto companies, and the network is neutral in every sense. It simply plods on transacting $25bn around the world each week. And as we so often see, just as bitcoin perks up, gold runs out of steam. They naturally work in reverse.

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Bitcoin and Gold Correction
BOLD ·

Bitcoin and Gold Correction

The Gold price had become exuberant, surpassing $5,000 for the first time in history in late January. Bitcoin also fell in late January. It is unusual but not unknown for both assets to fall simultaneously.