Gold ‘breaking down’ against Bitcoin is highly bullish for BTC — Analyst
Cointelegraph
Published Oct 24, 2020 09:49PM ET
Updated Oct 24, 2020 11:20PM ET
Earlier this week, Bitcoin (BTC) advocate and Real Vision CEO Raoul Pal said gold is breaking down against BTC. If the dominant cryptocurrency continues to gain momentum against BTC, it could strengthen its perception as a store of value.
In the past month, the price of Bitcoin gained 30.36% against the U.S. dollar, from $10,136 to $13,217. In the same period, gold has gained about 2.25%, from $1,863 to $1,903.
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Written By: Cointelegraph
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