Gold Begins Breakdown Against Bitcoin, Triggering 90% Decline On Per Oz Basis
Bitcoin price just set a new all-time high against the US dollar and other top global fiat currencies. But what might be even more significant, is the fact that the gold standard itself is breaking down against BTC after this latest rally. The gold versus Bitcoin price chart shows that in the past, each time support broke down, the precious metal dropped 90% in value against BTC on a per ounce basis. Here’s a look […]
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Bitcoin is laggingly tailing the gold chart trends, and it may face trouble for its delayed correlation. That is due to the precious metal’s latest breakdown move, wherein the price broke out of a Symmetrical Triangle pattern to the downside. Incidentally, Bitcoin is now consolidating inside a similar technical structure, and one analyst predicts it would break bearish just like gold. “Since the COVID Crash of March 2020, it is apparent that gold has been […]
SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time. Solana (SOL) dropped on May 26, continuing its decline from the previous day amid a broader retreat across the crypto market.SOL price pennant breakdown underwaySOL price fell by over 13% to around $41.60, its lowest level in almost two weeks. Notably, the SOL/USD pair also broke out of what appears to be like a "bear pennant," a classic technical pattern whose occurrences typically precede additional downside moves in a market.In detail, bear pennants appear when the price....
Bitcoin and gold are both valuable assets that can be used to protect against inflation; nevertheless, there are important differences between the two in terms of their history, accessibility, and other sources of demand. Gold, undoubtedly, has a lengthy history and solid basis, while Bitcoin has barely more than a decade of existence to prove […]
The Bitcoin price continues the downward trend with hitting an all time low since mid June 2014 with 550 USD per Bitcoin. Two days ago our author Venzen Khaosan posted a Bitcoin price analysis that could help explain why the price is falling the way it does now. Beyond the below factors which are always driving down the price, one large event that may be triggering this price drop is the sale of Ethereum's bitcoins. The Technical Bitcoin Traders. As Venzen's article explain: At the time of writing, the Bitstamp exchange price has entered a holding pattern around $575. Additional downside....
Bitcoin was able to hold the $20,000 through times with expected volatility, triggering speculations that the digital asset had finally reached its bottom. However, recent developments in the crypto market proved that the cryptocurrency had indeed not reached its bottom, declining lower than the previous cycle low. What Triggered The Decline One thing that bitcoin […]