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Bitcoin Down 20%, Gold New All-time Highs

July 4, 2024

Bitcoin is celebrating American Independence day by falling over $3000 in overnight trading.

That's over a 20% correction in less than a month.

That 60,000 level is Bitcoin is a big one. Below that and things get hairy.

So any strength here to recover above 60,000 quickly should be welcomed by the bulls.

Because if that doesn't happen quick, look out!

Meanwhile, the original Bitcoin (Actual Gold) is hitting new 5-month relative highs.

Here is the Gold to Bitcoin ratio. Keep in mind the nominal price of bitcoin is much higher than an ounce of Gold.

But remember that Gold is 16x the size of the tiny $1 Trillion Bitcoin market.

Bitcoin is so small that it's not even the size of the Silver Market, which is currently around $1.5 Trillion.

Here's a long-term chart of Gold and Silver Futures using Quarterly Candles.

Silver is hitting new decade highs with Gold making another new all-time high:

There is a lot of opportunity in this space.

Precious Metals keep winning. Are you noticing?

And if we know one thing about these cycles, is that historically they never last just a few years.

They always last for a decade or two.

So let's keep time in mind when it comes to this space.

It's less about how high can they go in price, and more about for how long they'll be going up.... odds are a long time.

So we want both price and time in our favor. That's what structural bull markets are all about.

Now here's something special. I spoke to THE MAN Rick Rule last week about exactly this.

There's no one I can think of on the planet that I would rather talk to about Gold and Natural Resources than Rick Rule.

Check out the full interview here:

We're in the early innings of a commodities super cycle.

Investors are not prepared for it.

We have the data. We know what's inside the American portfolios.

It's not Gold. It's not Energy.

And that's a huge catalyst.

The unwinds in this space are no joke.

Check out our full discussion here. It was awesome!


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