The gold thread

[_act_]

Meanwhile it seems Bitcoin is not affected at all, it even recorded a new 7 day high of $114k but then retroceded to its previous level of about $111k again.

It's in a kind of sideways, I don't know what's necessary for the price to go clearly up finally.

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $119000, it is repeating almost the same pattern.

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

[Taskford]

It looks gold is seeing the first signs of "late rally" profit taking today. It crashed 5% (during some time up to 7% if comparing 24 hs) from ~4320$ to ~4100$. According to some media this may have been one of the largest daily losses in the last 10 years.

...

This doesn't mean the rally is over, but it is a sign that markets are becoming more nervous.

I don't think this shows signs of nervousness. After the rally that began in early September, with exaggerated returns for what is usually the gold market, some consolidation was bound to come. For me, the big question now is, as you suggest, whether this is just a bump in the road or the end of the rally.

Maybe some sentiments are into that situation, but it seems that lots of investors think that they already made enough profit and its time for them to cash out that's why those situation happen.

Somehow that situation is quiet normal and that is common reaction by people. Maybe some got panic especially they see that the market is dumping but for sure lots of gold investor earn huge profit from recent pumps happen to that asset.

Maybe lots of investors do DCA with gold and when they reach that 10 year target those people dump, then this cause the largest losses in 10 years for gold.

[sana54210]

Maybe some sentiments are into that situation, but it seems that lots of investors think that they already made enough profit and its time for them to cash out that's why those situation happen.

Somehow that situation is quiet normal and that is common reaction by people. Maybe some got panic especially they see that the market is dumping but for sure lots of gold investor earn huge profit from recent pumps happen to that asset.

Maybe lots of investors do DCA with gold and when they reach that 10 year target those people dump, then this cause the largest losses in 10 years for gold.

That is how all assets work, if you think that you have made enough profit then you stop and just keep it as it is, there isn't really any reason why you should not be working further with it. I understand the way it's done right now, but gold peaked a lot, so people may start selling, not all has to sell, some may hold or some may even buy, but there will definitely be some people who will sell. So that is why we should be careful about it and not really be wondering why it is not working.

If you really want to make money, getting out of gold and getting into bitcoin isn't a bad idea for now, but honestly if you want to wait until next halving, that is not a bad idea neither, gold should be fine until then.

[Free Market Capitalist]

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $190000, it is repeating almost the same pattern.

Did you write an extra zero there?

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

In the end, after that small rise, it has remained at that level. In other words, the price continues to be boring.

What also seems to have stopped is the gold rally, which after reaching an ATH of $4,350 per ounce more than a week ago, has fallen to levels below $4K at the moment.

[_act_]

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $190000, it is repeating almost the same pattern.

Did you write an extra zero there?

It was a mistake, I wanted to type $119000, before bitcoin later got to all time high, not $190000 which bitcoin has not gotten to before.

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

In the end, after that small rise, it has remained at that level. In other words, the price continues to be boring.

What also seems to have stopped is the gold rally, which after reaching an ATH of $4,350 per ounce more than a week ago, has fallen to levels below $4K at the moment.

It is good if bitcoin is not falling below $110000, it can indicate another preparation that it will rise above $120000 again. But the market is truly boring right now.

Gold form triple top on a day candle after it has been rising for so long, that indicated bears at work and they showed that they are truly at work.

[bubilas]

Gold has always been an excellent asset, a so-called safe haven for any financial asset, but now, due to such a frantic rise, gold is extremely overvalued, which is a very bad sign for investing in it right now. Yet people continue to buy gold due to the crowd effect, even though it's clearly already being overvalued. After all, it's an asset that has no physical value. It can't be useful in everyday life.