“Bottom in Gold Is Close!” Analyst Pushes Back on Bearish Gold Price Predictions

Gold is currently worth around $4,195 after recovering from a recent low near $3,950, and analyst Fthegurus believes the market may now be very close to forming a major bottom. His argument is based on historical drawdowns . He points out that gold has gone through six major corrections since 1990, with most bull-market pullbacks falling somewhere between 23% and 30%. The current correction already fits inside that range. Gold is roughly 25% below its all-time high, and the recent move toward $3,950 represented a decline of about 30% from the peak.

Source: CaptainAltcoin