Bitcoin Flashes Bottom Signals as “Digital Gold” Narrative Returns
Bitcoin Magazine Bitcoin Flashes Bottom Signals as “Digital Gold” Narrative Returns Has Bitcoin bottomed out? Data shows it might have. This post Bitcoin Flashes Bottom Signals as “Digital Gold” Narrative Returns first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
Source: Bitcoin Magazine
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DW NOTE
Bitcoin has fallen 50% from its October high of $126,080 and now trades at $63,362 — but the article calls this a "bottom signal" because the price has dropped into the "cost of production zone." That's not how markets work. Production cost sets a floor for suppliers willing to operate at a loss, not a price floor for buyers. Gold is up 5.1% this week as Hormuz stays closed and oil climbs 10%; Bitcoin is down 2%. The "digital gold" narrative returns every time Bitcoin falls far enough that calling it a bottom becomes the only bullish case left.