BTC vs. Gold: the Downtrend Remains Intact

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While on a USD basis, bitcoin is in a choppy area, on a gold basis bitcoin is in a downtrend. It's probably best to compare against a commodity like gold anyways, because it represents buying power better than something like the dollar can. I think a flush in "risk-on" assets like bitcoin is likely in the near future. I'd be looking for a bottom near the 10x gold multiple.