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Bitcoin got the gold memo

 

Bitcoin got the gold memo

Courtesy of 

Bitcoin’s price got the memo – if gold is going higher, so too should the digital version of a dollar hedge (allegedly a dollar hedge)…

I put this together quickly in YCharts – on a rolling 30-day basis, we’re back at 5-year highs for correlation between Bitcoin and gold prices as the dollar falls.

The United States is on the precipice of joining a very exclusive club – we’re headed toward a Debt to GDP ratio of over 100% this year, based on current trends.


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