We Called It – This Trend Is Strong
The corporate media’s idea that Bitcoin is “digital gold” has been thoroughly refuted as January draws to a close, with the price of BTC decisively diverging from gold and miners.
I’ve long said that 2017 wasn’t about safe haven buying. Investors and speculators, who were bidding the price of Bitcoin up, weren’t doing so, because they feared anything. It was a tremendously bullish year for stocks as well, so recessionary fears were out of the way.
No, Bitcoin isn’t digital gold, not until we see central banks buying it.
In fact, today marked an eight-month high for gold, while Bitcoin continued to struggle at the $3,450 level. It’s no coincidence, as there’s been a mass movement from Bitcoin into gold that could continue throughout 2019. The reason for the demand is due to China’s renewed purchases – some 100 metric tons are in the works.
Gold miner ETF creator Van Eck Associates’ CEO, Jan Van Eck, echoed this sentiment, suggesting that Bitcoin investors are now moving towards a more traditional commodity even though “Bitcoin pulled a little bit of demand away from gold” in 2017, the year BTC peaked at around $20,000.
To back-up this idea with data, Van Eck Associates conducted research that yielded a decidedly gold-bullish result: “Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it’s going the other way.”
These numbers, and the divergence between BTC and gold, is exactly what Pure Blockchain Wealth has been predicting since September. We sent multiple bullish alerts on gold and miners months ago.
We’ll send out the alert on BTC when the time comes.
With 6,000 years of history as a store of value and a form of money, gold has withstood the test of time and has no risk of failing as a usable and tradable commodity in our lifetime. Tangible and fungible, gold is rare and universally recognized as valuable; moreover, it doesn’t tarnish, rot, or decay – Bitcoin strives to be immutable, but gold is immortal.
Van Eck has observed, furthermore, that gold mining stock shares are capable of outperforming during a time of blue-chip stock index volatility like we witnessed in Q4 of last year. Thus, the miners have been acting tremendously well over the last two or three months. It’s starting to zig when the stock market zags. That zigzag, that decoupling, makes me really excited about gold shares as a diversifier.”
Unlike the vast majority of commentators in the mainstream media, we’ve been pounding the table for gold and miners for a while now. Our January 3rd pick is up 50%, precisely. Our mid-January pick is up 20%.
These are big gains.
We will continue covering the Bitcoin-gold divergence as it unfolds, so look for upcoming alerts on how to capitalize on this critical development.
Best Regards,
Brad Robbins
President, PureBlockchainWealth.com
Legal Notice:
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.Please read our full disclaimer at PureBlockchainWealth.com/disclaimer
Original Article Available HERE