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Gold, Silver - Explosion in New York - Bitcoin

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At present - 18:55 today the precious metals - Gold and Silver are certainly not shining. Both looking like they are preparing for the next leg down.

 

During this Bitcoin is looking like it is preparing for its next leg up. 

 

Is anyone stopping the big institutions and Central Governments from buying more Gold? Absolutely not. We have passed the Chinese New Year and Diwali (India) and it still had not made an 'ounce' of difference.

 

The price action of Bitcoin is certainly supporting the view that is Digital Gold or Gold v.2.0. There was a potential terrorist led explosion in New York and the Gold price is going down and Bitcoin price is not. Which of these looks like a safe haven?

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I was thinking about you  and what you had said in a previous post. I Draw tragectories using the outer bands of my Bollingers and on my spot gold IG (DFB) the price has just crossed the Rubicon. If it ends the day that way I ageee it doesn't look good.

 

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Using trajectories along the outer bands of my Bollingers 20 3.00 on Bitcoin (USD) (DFB) the IG price just crossed north of the Rubicon on the 3hr chart will it hold. will it reach that exciting 17,500 IG price in its historic first 24hrs?

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Bitcoin is on fire at the moment. 

 

I stated in previous posts that I fully expected $20,000 to be hit and it looks like it will be soon at this rate. Investors and traders use the word momentum a lot but Bitcoin is a prime example of an investment or trade that has pure momentum. This is the strongest trend I have ever experienced in my lifetime.

 

The trend is your friend and never bet against the trend. Which is why I advised others not to short Bitcoin unless your are a professional day trader or a downtrend is confirmed by moving averages over say 20 day period, 50 day period and 200 day period depending on your timeframe and horizon of trading.

 

I do sense a familiar patter of Bitcoin increasing and Gold decreasing in price. This is why I think there could be a shift of capital allocation from Gold to Bitcoin. If this is happening then $1 trillion market cap and more is coming. It means $48,000 Bitcoin price is coming. The market, Hedge Funds, speculators, big investment banks, etc. will make it happen. 

 

If a Bitcoin ETF is approved then watch the Bitcoin price storm towards £48,000.

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I think we are getting close to a Bitcoin ETF. Even if the initial few are rejected they will eventually succeed. It is hard to authorise / approve Bitcoin Futures and then not Bitcoin ETF's if everything for the ETF is per regulations.

 

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I tend to read:

 

Coindesk

 

Cryptocurrencynews

 

Coin Telegraph

 

I am not suggesting that these are the best websites in relation to Crypto's and Blockchain but these are the ones I tend to read throughout the day.

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Interesting. I do read about them and will take a closer look. What I recently liked about News Now is that is pulls up all the latest breaking news from so many different sources from the moment its published (and you can customise it).

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121 wrote:

There's definitely going to be a lot more money and leverage pumped in.

 

Which are you finding the best general news feed for crypto currencies. I found watching the one below really exciting.

 

 

I like this link! Great stuff.

 

On the Mega Thread there were a few links at the bottom as well. Just a quick copy and paste for you here. Some people like the news aspects, but others also like Etherscan and Blockchain.info as they provide an insight into the 'health' of the blockchain itself (as below). 

 

 

e.g. blockchain.info - you should also be able to download the CSV so you can look at analyzing against the price of the asset. This was quite useful for the whole segwit debate and other scalability discussions. 

 

2017-12-12 09_18_30-Bitcoin Charts & Graphs - Blockchain.png

 

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Thank you James this is all really good stuff. I knew IG provide a lot of such but did not know where to find it.

 

Thank you.

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