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Brien Lundin: Gold vs. bitcoin
By Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, November 11, 2024
In investing, perception is reality, especially over the short term.
And right now a lot of traders believe that the incoming Trump administration is going to be very pro-Bitcoin ... and for some reason that’s also supposed to be anti-gold.
Bitcoin is continuing its post-election rally, reaching nearly $85,000 after surging over 7% today.
... Dispatch continues below ...
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In contrast, both gold and silver are off over 2.5%, in a follow-up to the big sell-off experienced the day after the presidential election.
The consensus view among traders is that the incoming Trump administration will be very friendly to institutionalizing Bitcoin not only as money, but potentially as a national reserve holding. Speculators have jumped onto this view, which is, frankly, completely understandable.
What isn’t understandable is why this would be bearish for gold. ...
... For the remainder of the analysis:
https://goldnewsletter.com/go111124/
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