BTC/GOLD Chart on TradingView
I was pondering the ratio of BTC & Gold when I realized I could chart it simply in trading view. Many have come to realize that fiat currencies prices always trend towards zero and become worthless. At the same time, a lot of us still tend to chart BTC vs USD.
I remember looking at the Bitcoin price in early 2017 and wondering how long it would take before 1BTC could buy more than 1 oz of Gold. It had been a resistance level for quite a while, and it was also a huge psychological price level for people to grasp. Many people thought, "How can a unit of some silly internet numbers have more value than a unit of Gold?" I asked myself this question even though I realized that we weren't comparing similar units.
We broke above the BTC/GOLD ratio of 1:1 April 2017 for the last time to date. In hindsight, trading in your gold for Bitcoin at that time would have yielded amazing results. We hit an ATH of 15.74 in December of 2017. Any great traders out there manage to buy a full Bitcoin for an oz or less of Gold and manage to sell near the all time high? Getting 15X on your gold reserves in less than a years time is truly remarkable.
I also decided to take a look at the 200 day simple moving average. It was a point of support from October of 2015 all the way until February of 2018. In this 2.3 year time period, BTC rose 3650% vs Gold!
Do any of you actively trade the BTC/GOLD markets?
Thanks for this!!