Gold vs BTC
Ever wondered about the correlation between Gold and the “new” risk-off asset Bitcoin (BTC).
In the above chart I am comparing BTC and Gold to test for a potential correlation.
BTC looks bearish and there is more downside risk.
When deciding between the two, I think it’s a question of which assets you are more confident in.
Personally I prefer something tangible … If you can’t hold it, you don’t own it!
For me, with BTC it feels like a case of “The emperor’s new clothes”, there’s no substance. That’s why I tend to trade the price movement only, there is no sentimental value.