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Bitcoin-Gold Correlation Hits Record High as Institutions Buy Crypto

September 22, 2020

The bitcoin-gold correlation has hit record levels, according to data from The Daily Shot, CoinMetrics, and skew.The correlation is being driven by economic and stock market turbulence, with institutional investors increasingly treating bitcoin as a haven hedge against inflation.Correspondence between gold and bitcoin prices will last for as long as the global economy continues to suffer Covid-19 fallout.The bitcoin-gold correlation has hit its highest level on record, according to data from financial newsletter The Daily Shot. The level now stands at 0.6, with data from other sources showing that the correlation has hit new peaks in recent weeks.The bitcoin-gold correlation is rising for several reasons. Investors are looking for havens amid a long-term economic downturn and short-term

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Dave Portnoy Buys $200,000 in Bitcoin – As a Total Crypto Noob

August 14, 2020

Dave Portnoy has bought $200,000 in bitcoin and $50,000 in chainlink in a video with the Winklevoss twins.
Portnoy bought the crypto despite understanding almost nothing about Bitcoin.
The video also sees the trader plan his own “DaveCoin,” and accept the idea that Elon Musk will soon crash gold by mining it on asteroids.
Dave Portnoy has bought crypto in a bizarre “crash course” video with the Winklevoss twins. Posted to Twitter, the clip shows the trader trying — and failing — to get his head around cryptocurrencies, before buying $250,000 in bitcoin and chainlink regardless.
The clip also sees Portnoy accept the Winklevoss twins’ belief that Elon Musk will crash the price of gold in the not-too distant future, by mining billions of dollars’ worth of the metal on

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John McAfee’s Cowardly Bitcoin U-Turn Proves He’s the Clown of Crypto

January 6, 2020

John McAfee disowned his infamous $1 million Bitcoin price prediction. But past history suggests his latest remark is just an attempt to gain attention. McAfee is also wrong that Bitcoin is “ancient” technology. John McAfee is one of the crypto industry’s biggest clowns. Yes, he may have founded the eponymous McAfee – one of the world’s largest cybersecurity firms – in 1987. These days, he’s best known for predicting that Bitcoin would reach $1 million by the end of this year.Well, his career has taken yet another “unpredictable” turn. On Sunday, he claimed in a tweet that his $1 million Bitcoin price prediction was a “ruse” intended to gain publicity.Source: TwitterNot only that, but he torched the cryptocurrency as “ancient technology,” implying that it would be usurped by younger

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