After the launch of the gold ETF, the price of gold experienced a 50% pullback and then entered a period of consolidation before welcoming a healthy bull market
Nestay on twitter: Gold's vs Bitcoin's ETF price action.
In both cases we saw a rally in anticipation of the approval. Many believe gold went up-only after its ETF launched but the reality is that it corrected at least 0.5 of its anticipation rally first. A long period of re-accumulation followed for a healthy bullrun afterwards.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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