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Read the latest Bitcoin articles sourced from a variety of trustworthy content providers at NASDAQ. Could Oil’s New Highs be a Bad Sign for Stocks? PBC Tech Readies Battery-Boosting PowerWRAPPER for Commercial Launch With Manufacturing Agreement and New U. I don’t think there is anything that is creating more buzz than Bitcoin and its cryptocurrency counterparts. It’s actually crazy that something dubbed “digital gold” has grown into something so big where it has gained legitimacy by trading on not one, but two futures exchanges. In reality, Bitcoin is not digital gold. In reality, it has no intrinsic value because it is backed by nothing and, therefore, placing a value on it using a fundamental approach is nearly impossible.
While everyone is focused on Bitcoin, there is actually a company doing exactly what Bitcoin is claiming to do. This is obviously a great reason to like the stock, but the reason why I am focusing on it and how I stumbled upon it is because the XAU stock chart is very compelling, which is just a fancy way of saying that there is potentially a very large move in the making. If you have come across my work in the past, let me quickly explain the basis that my views are predicated on. I use a method of analysis called technical analysis to analyze potential investments.
This method of investment analysis is based on the notion that historical price and volume data can be used to forecast what the future may bring. This data is found on a company’s stock chart and, therefore, my views are based on my ability to interpret that data. This level was first established on May 20, 2015, which was just five days after the stock began trading. After this level was established, a substantial sell-off quickly followed and it has taken two-and-a-half years’ time to get back to this level to retest it.