I just had a great rally run with bitcoin in the last two weeks. It was an all time high well over USD 7,500 before the price hovered back around USD 7,000. I believe there is a new support price now at this level. The next question is, when is the next rally? While I am waiting for the next "bit-bull", I like to call it that way. I am throwing in for gold now. Past few days I have seen a line of great sellers - cashing out from those USD 6,000 bracket. So if these are finance-geeks, where would they put their money in next? How about gold?
Gold price has been quiet and on the low. Not alarming everyone but now if it is not picking up in the coming quarter, might as well wait for next year to come. So likely I will be taking a call position on this one and concurrently I am buying more bitcoins.
GOLD PRICE CHART
So I will be using future gold price to hedge against bitcoins in my next coming month.