Gold is over speculated - it's just a freaking metal can I spend it over the internet like bitcoin; If the answer is nope that's why its going to fall 7T dollar market and it can't even break $2000 because it cost Octane (Crude Oil) to move and NYSE Bank or International Bank for Storage on top of insolvent illiquid balance sheets that these banks hold because of financial instabilities and bailouts of these REPO injections on top of inflation and global financial insecurities like toxic assest and failing fiat currencies.
like my meltdown I hope you fed / banksters get anal fisted by crypto-traders like myself LATER BABY!!!
Gold has always been a store of wealth... for thousands of years. I hold many different assets including crypto, but you're cornering yourself if you only depend on one specific asset. Right now BTC only has purchasing power because of its convertibility rate into different fiat currencies. Also it needs a much bigger adoption by global population. I think it would be very generous to say 5% of total population would barter in crypto in today's world. Don't become emotionally attached to any trade either way, go by the charts. Be prosperous and stay prosperous brother.
(Look at the big picture of the 1 day time frame chart of gold. It looks to be forming the handle right now of a cup and handle pattern. Inside of that there's a bull flag pattern.) If it hits 1478ish I'll be interested in a short down to 1460 range, but there will be a pretty tight stop/loss.
P3RZON4
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@Camoney, the thing is whats propping up gold is the 120B daily installments by the repo markets which is propping up gold indirectly which is bullish for gold until the supplier stop supplying the drugs the US needs to stay high, and bitcoin has no argument if you go to my OCT 22 post on BTC it has not changed it is the most scarce assets. you are not only buying an application / digital money called bitcoin you are owning a derivative asset of computational power that can be used to power new avenues of stock to flow of liquidation without government manipulation. and as long as the government keeps pumping fake money into the world bitcoin will darkhole all of it making usd worthless. you have no counter-argument here because not believing in bitcoin is the same as not using digital data retrieving services (powers physical delivery of goods and services via the internet) / digital assets like Twitter/Instagram/Wechat/Facebook/Google/Microsoft/Amazon and more.
(Look at the big picture of the 1 day time frame chart of gold. It looks to be forming the handle right now of a cup and handle pattern. Inside of that there's a bull flag pattern.) If it hits 1478ish I'll be interested in a short down to 1460 range, but there will be a pretty tight stop/loss.