We come across a lot of readings these days, suggesting that this or that piece of hash code, forged by funny folks on their PCs or even on servers in their employer's data centers, become the next gold standard in terms of a lasting "store of value". Well, the blue arrow in this fairly simple trend channel chart tells you my opinion about that kind of story. Not too far in the future, a lot of guys, whose cash gets burned in crypto space, will learn their lessons & understand what made gold keep its investment grade for centuries.
Don't get me wrong - I love crypto space and all the economic potential looming there. In fact, I expect the occurance of a crypto coin, backed with real gold in the near future. Such a coin, let's call it "Bretton Woods", will become the real challenge for the fiat monetary system. With Bretton Woods' recurrence in crypto space, the blue arrow in my chart will have to be replaced with something more vertical.
Now you guys understand why I am pretty bullish about the pair XAUUSD.
Don't get me wrong - I love crypto space and all the economic potential looming there. In fact, I expect the occurance of a crypto coin, backed with real gold in the near future. Such a coin, let's call it "Bretton Woods", will become the real challenge for the fiat monetary system. With Bretton Woods' recurrence in crypto space, the blue arrow in my chart will have to be replaced with something more vertical.
Now you guys understand why I am pretty bullish about the pair XAUUSD.