BTC stumbles as gold, silver and copper soar to new records Friday
In what’s become all too familiar action at the start of the U.S. trading day, the crypto sector quickly more than gave up even the tiniest hint of an overnight rally.
Nudging above $89,000 at one point as the U.S. slept on Friday, bitcoin quickly tumbled back below $87,000 as American stocks opened for trade following the Christmas holiday.
Again all too familiar for crypto bulls, the poor price action occurred as metals continued to soar, with gold, silver, copper and platinum all posting new record highs on Friday.
Already attracting capital that might otherwise go to bitcoin as part of the global debasement trade, the metals today are also maybe benefitting from rising geopolitical tension after the U.S. hit Islamic State…
