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Gold & Bitcoin

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I hate to say it, but I really like how Bitcoin has been shaping up. It’s a huge bullish base, and should it push well off $13,000 – – while it hardly makes rational sense – – it will be off to the races, in my opinion.

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I have a much stronger fondness for good old gold, and I’ve been wondering if the sleepy precious metals were going to “catch up” to crypto strength lately. It’s really not clear. They sorta-kinda tend to move together, but looking at them plotted on top of one another, it’s hard to say what’s next.

I used our new Correlation Study to try to divine something, but no dice. As you can see, correlation warbles from positive to negative with little rhyme or reason.

I can only return, once again, to the long-term chart of gold versus the M2. This just seems like a “lock” to me for a very positive future. As good as $BTC looks, I still would prefer something I can hold in my hot little hands.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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