The breakout of gold suggests a new secular move, which will likely lead to a bear market in the stock market and the Nasdaq. As a result, investors should sell Bitcoin now.
Bitcoin has been one of the best-performing assets in recent years. However, there are signs that the cryptocurrency may be headed for a downturn. Gold, on the other hand, is breaking out of a long-term bear market. This suggests that a new secular move is underway, which will likely lead to a bear market in the stock market and the Nasdaq. As a result, investors should sell Bitcoin now.
Gold Breakout
Gold has been in a long-term bear market since 2000. However, the price of gold has recently broken out of this bear market. This suggests that a new secular move is underway.
There are several reasons to believe that the gold breakout is sustainable. First, the U.S. economy is slowing down. This is likely to lead to a flight to safety, which will benefit gold. Second, the Federal Reserve is expected to raise interest rates more slowly than previously thought. This will also benefit gold.
Stock Market and Nasdaq Bear Market
The gold breakout implies that the stock market and the Nasdaq will be in a secular bear market soon. This is because gold is a hedge against inflation and stock markets typically perform poorly during periods of high inflation.
The stock market and the Nasdaq are already showing signs of weakness. The S&P 500 is down 10% from its all-time high. The Nasdaq is down 20% from its all-time high.
Sell Bitcoin Now
Bitcoin is a technology play, not a currency. This means that it is highly correlated to the stock market. As a result, Bitcoin is likely to follow the stock market and the Nasdaq down in a secular bear market.
Investors should sell Bitcoin now to avoid further losses. There are several ways to sell Bitcoin. Investors can sell Bitcoin on a cryptocurrency exchange or they can sell Bitcoin to a Bitcoin ATM.
Alsoo read:
- SegWit: Revolutionizing Bitcoin’s Transaction Format
- Crypto Strategist Predicts Bitcoin (BTC) Primed for a Parabolic Surge, Reveals Price Targets
- Bitcoin ETF: A Major Milestone for the Industry
Conclusion
The gold breakout is a major turning point in the financial markets. It suggests that a new secular move is underway, which will likely lead to a bear market in the stock market and the Nasdaq. As a result, investors should sell Bitcoin now.