Bitcoin’s 90-day correlation with gold hits nine-year high
BTC's 90-day correlation with gold has reached a multi-year high as the US Treasury’s QE Lite announcement reunited debasement traders.
Read more (2 min) →18 stories, newest first
BTC's 90-day correlation with gold has reached a multi-year high as the US Treasury’s QE Lite announcement reunited debasement traders.
Read more (2 min) →A dollar saved in gold a year ago is worth $1.28 today, while the same dollar saved in BTC is worth just $0.55.
Since Donald Trump joined Israel’s war with Iran on February 28, BTC has rallied 8% while gold has fallen 18%.
Curiously, BTC has demonstrated relative strength among trillion-dollar assets since the onset of the Iran war.
A 72-hour rally in gold this week added twice as much value to the precious metal than the entire market capitalization of BTC.
The world’s largest crypto exchanges waited until gold had already rallied 70-80% to open up traditional products for retail trading.
BTC has lagged far behind gold over the past year. By one calculation, BTC is 68% lower than it should be.
Crypto promoters are trying to lure precious metal speculators with dubious claims of ultra-high yield farms in tokenized gold.
Amid a historic rally in gold over the last 12 months, BTC investors are losing confidence in it becoming digital gold.
Despite an 11X larger market capitalization, gold has rallied 32% versus BTC's far more modest 16% so far this year.