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Bitcoin Rallying Hard, Gold Rallying Hard – Not a Coincidence

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#1
  • Bitcoin price jumps to almost $8,470 with strong volume after Iran fired a dozen missiles at US bases in Iraq

  • “A very classic risk off,” as both gold and bitcoin price jump

  • Bitcoin’s re-accumulation bottom completed, $10,400 coming?
This week Bitcoin is making a lot of movement that has us at the level we were at in mid-Nov.
First, on Jan 3rd, Bitcoin jumped from $6,850 to well above $7,400. Now today we shot past $8,000 to nearly $8,470.

The first surge in price has been after a US airstrike killed Iran’s general Qaseem Soleimani. Now, this another jump in price came after Iran’s missile attack on US-led forces in Iraq on early Wednesday. This attack came hours after the funeral of the Iranian commander whose killing in a US drone strike has raised fears of conflict in the Middle East.
[img]blob:https://altcoinn.com/8a091810-0d10-4aa8-b51e-c19250c7b2ac[/img]
Source:  @Travis_Klingsize]

[size=large]Gold and Digital Gold in “Clear Focus”

This has the price of gold soaring, hitting their highest since March 2013 at $1,603.73 per ounce, as per goldprice.org. “It's a very classic risk off,” said Rob Carnell, Asia-Pacific chief economist at ING in Singapore.
As Mati Greenspan, founder of Quantum Economics says, “Gold rallying hard. Bitcoin rallying hard” is not a coincidence.

The jump in the price of gold and digital gold is viewed by investors as a safer asset in the time of political and economic uncertainty.
The data clearly points out that both Bitcoin and gold are in “clear focus” as tensions between the US and Iran escalate. As Bitcoin enthusiast Rhythm trader notes,
“THIS IS ONE OF THE FIRST TIMES WE'VE SEEN BTC TRADE W/ A CORRELATION TO MACRO HEADLINES IN ~2+ YEARS (WHEN IT TOOK A LOT LESS $$). CORRELATION =/ CAUSATION BUT ITS ENOUGH TO START A NARRATIVE AROUND BTC AS PEOPLE ENTER THE NEW YEAR WITH 0 PNL AND ASSESS PORTFOLIO ALLOCATION.”
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