Contributed Commentaries
Is the gold price ready to catch up to Bitcoin?
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
In my opinion, there is more reason than there has been over the past two weeks for those long from that $1905 area to hold onto the winning trade.
Here is a zoomed-in weekly gold chart:
And here are the exact same chart parameters applied to BTC:
The bottom for gold may have come on yesterday’s pre-market washout. BlackRock CEO Larry Fink proclaiming the uselessness of gold on CNBC while his company has an application in for a spot Bitcoin ETF with the SEC could be the ultimate final sign.
That said – I remain bullish on Bitcoin as well.
Thanks, and good luck.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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