- Well, it seems that gold has become the belle of the ball, as investors skedaddle from the stock market like it’s on fire, all thanks to those pesky trade wars.
- And as gold struts its stuff, Bitcoin is just waiting for its moment to shine, hoping to catch a ride on the cash carousel once gold hits its peak.
On this fine Wednesday, the U.S. stock market has seen more forced liquidations than a cat in a dog park, totaling a staggering $1.5 trillion. This is all after our dear Fed Chair, Jerome Powell, warned us that more volatility is lurking just around the corner. With trade negotiations dragging on like a snail on a hot day, investors are flocking to gold like moths to a flame, seeking refuge for their precious capital.
Inflation is also expected to rear its ugly head, as investors are quaking in their boots over midterm elections, all while the U.S. dollar is losing its grip against other currencies like a slippery bar of soap.
Gold Market Blowout
During the North American trading session, gold has been gathering momentum faster than a runaway train, as trade negotiations send global stock markets into a tizzy.
In the last 24 hours, gold has jumped over 3 percent, trading at about $3,337 as I pen this. It seems gold has been on a price discovery journey since its bullish breakout back in October 2023, fueled by a rising demand from central banks, particularly those in China. Who knew gold could be so popular?
When Bitcoin?
Ah, Bitcoin, the digital gold of our time! It’s been strutting around for the past decade, especially after it danced its way out of the 2008 financial crisis and waltzed through the Covid-19 crash. The Federal Reserve has even decided to crown Bitcoin as digital gold, rather than a rival to the good ol’ U.S. dollar. How generous!
Now, it seems the U.S. government, under the watchful eye of President Trump, is eager to embrace Bitcoin to help lighten its hefty debt load. Who wouldn’t want a little digital magic to make their financial woes disappear?
From a technical perspective, Bitcoin has a knack for experiencing parabolic rallies every time gold reaches its peak. Historical trends suggest that gold could soar to $3,500 in this cycle, or perhaps even higher, depending on how the trade war unfolds. It’s like a game of financial chicken!
In the three-month candlestick, gold has reached the top after the Relative Strength Index hit a low of 93, and now it’s hovering around 83. Quite the rollercoaster ride, wouldn’t you say?
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2025-04-16 23:53