Gold's Disparity to Beat Bitcoin is Regaining Fuel
According to Bloomberg data, the price of gold was up about 10% year on year as of May 8, 2023, making it one of the top-performing major assets. In comparison, Bitcoin was down almost 20% during the same time period, while the S&P 500 remained relatively steady. This further reflects the present pattern of gold prices rising relative to Bitcoin prices. advertisement Based on Bloomberg’s Analysis , there is a correlation between the S&P 500’s peak and trough, its 100-week moving average, and the Bitcoin / gold ratio. Specifically, when the S&P 500 has been trading above its 100-week moving average, the Bitcoin / gold ratio has tended to be relatively high, indicating that Bitcoin is outperforming gold . Conversely, when the S&P 500 has been trading below its 100-week moving average, the Bitcoin/gold ratio has tended to be relatively low, indicating that gold is outperforming Bitcoin. However, it is worth noting that...