Gold Is Booming — and That Means Bitcoin Could Soon Break $10,000

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While markets like Bitcoin and the S&P 500 have flatlined over recent weeks, gold has rocketed higher. As can be seen in the chart below, the precious metal has exhibited strength since a dip to $1,670 in June. Just days ago, an ounce of gold crossed above $1,800 for the first time since the post-Great Recession rally. Gold (XAU) price chart over the past 1.5 months from TradingView.com The asset is benefiting from a confluence of trends, including central-bank gold purchases, extremely easy monetary policy, and a weakening dollar. A fractal analysis by a crypto trader indicates that because the precious metal is surging, Bitcoin will rally as well. Bitcoin Will Surge If It Follows Gold has not been subject to the same consolidation Bitcoin has. As the cryptocurrency has stalled, gold has surged higher, passing $1,800 as aforementioned. An analysis by a pseudonymous trader predicts that should BTC follow…

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