It's 'really difficult' to be bearish right now: AlphaSpace analysis of bitcoin & gold

00:00 Speaker A

I think what the Treasury announced last week is very negative for the dollar over the next year. I mean, they specifically discussed that they could start a pretty massive buyback program, uh, to really help to anchor the long end of the curve, but uh, the way that that's going to happen likely is going to cause the dollar to go pretty sharply lower in the months and potentially the year to come. So, in general, that's actually a very good source of, uh,

00:32 Speaker A

of op, you know, it should provide some optimism for risk assets. I mean, we've already seen a nice spark in in Bitcoin and cryptocurrencies and gold and silver.

00:44 Speaker B

Yeah. I want to talk about gold right now and I have this up on Alpha space and this is just a five-day chart. You can see from this big spike here, this was uh just before or that was on the announcement from uh Bicent that he's going to start buying back more of the long-term Treasuries. And right now it's up 47 to $4,700.

01:05 Speaker A

Yeah, we're closing in on the end of the first big move off the lows which started this past summer. We know that Gold's monthly cycle bottomed uh in July. We started to turn higher. This is a seasonally very positive time for the precious metals. So, my thinking is we probably have uh a few weeks left where gold can push higher. Thereafter, I sense that gold as well as cryptocurrencies likely is going to uh back and fill a little bit. We'll see some consolidation in the month of September.