The Trader Top 9: Gold and Bitcoin Rally Big

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Welcome back to another Trader Top 9. This week finds bitcoin making a major move up to hover around $11,000. What’s driving it? Let’s dive in.

9. First, let’s start in the macro world. On the one hand, there is a growing sense that more stimulus is necessary and coming.

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8. On the other, there is a strong argument that the crash this year was an aberration in a longer term trend.

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7. Still, for as strong as the recovery has been, it’s really a tale of two markets: big tech and everything else.

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6. One of the biggest trends in traditional markets this year has been special purpose acquisition companies instead of traditional IPOs. Some crypto insiders think that trend will be a vehicle for crypto companies to go public this year as well.

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5. Still in more recent traditional market action, the run up in gold has been a major story.

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4. Importantly for all of us, the explosion seems to have been for digital gold as well, as bitcoin surged up over $11,000

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3. As the strength of the core assets shown through, it had a negative impact on many of the DeFi assets we’ve been following along with.

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2. The rally - and its macro underpinnings - have many thinking about how it may make the next bull rally even stronger.

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1. But no matter what the future holds, the reality was that this week saw some very good days!

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