Bitcoin is down almost 50% since October, when I pointed out the negative effect that Bitcoin ETFs will have on the price of this crypto-currency. The derivative has eroded Bitcoin's demand side, leaving sellers with a smaller pool of buyers. Hence, the lower price.
Meanwhile, gold remains stuck in its wedge formation. It has been pushing up against resistance as of late, but so far without success.
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| Monthly chart of the gold price in US dollars |
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