This chart shows the flow of money between 2 assets: BTC and GOLD.
The current perception in the market right now is that BTC is being used as a store of value. This narrative is backed by the chart showing that both compete for the same position in the market.
Outside of general correlation, I suggest that Gold is being used as a vehicle to accumulate more BTC . Supported by the downtrend of gold printing lower highs while BTC prints higher highs.
If that trend continues, we can use that correlation to predict BTC cycles and moves.
I didn't draw on the chart my prediction for these 2 assets but it is quite clear ;)
The current perception in the market right now is that BTC is being used as a store of value. This narrative is backed by the chart showing that both compete for the same position in the market.
Outside of general correlation, I suggest that Gold is being used as a vehicle to accumulate more BTC . Supported by the downtrend of gold printing lower highs while BTC prints higher highs.
If that trend continues, we can use that correlation to predict BTC cycles and moves.
I didn't draw on the chart my prediction for these 2 assets but it is quite clear ;)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.