- July 9, 2022
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
We looked into this correlation 3 weeks ago with the following analysis but on the reverse ratio of GOLD/BTC:
As you see that was right when the ratio tested the 7 year Lower Highs trend-line and the rejection so far is confirming our bias, which are sell Gold and buy Bitcoin for the next couple years. Gold’s 4 straight week sell-off is basically sending a signal to the whole market.
Now back to this study, we view the ratio as BTC/GOLD to put it into a longer-term perspective. We are in the exact same bottom level the price was in December 2019 and January 2015. A conversion of some Gold wealth into BTCUSD for the next 2 years is highly recommended.