Flipping the Bit

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Judging from the ratio chart of $BTC versus GLD, it would seem that Bitcoin might have a long, long, LONG way to go before it reaches meaningful support.

slopechart BTC GLD

Bitcoin futures have had $10,000 blasted off of them in just a few days. The fact that Coinbase ($COIN) came public last week is just all too perfect. Here are the /BTC futures, augmented by the brilliant but admittedly weird-looking young creator of Ethereum.

btcfall