without_worries

Gold or Bitcoin - which is the better hedge for 2023?

Long
TVC:XAUBTC   GOLD / BITCOIN (CALCULATED BY TRADINGVIEW)
Short answer, Bitcoin .

About the same time last year the question was asked:

“Gold or Bitcoin - which is the better hedge for 2022?”

The idea is in the link below if interested. Suffice to say, there was Strong divergence, strong buy signals with study from multiply time frames. If you held Gold instead of Bitcoin you would now be in a position to have four times as many Bitcoin today.

Am sorry to tell you gold bugs, but 2023 is most definitely not the year to be holding onto the shiny metal. Will publish the reasons elsewhere.

On the above daily chart above price action has printed a death cross but is yet to confirm. For confirmation the Gold / Bitcoin ratio needs to print the 200-day SMA as resistance. There is good evidence for this.

It is also worth paying attention to the angle of the cross at this time, it is sharp . In the past a low angle has meant both assets tend to follow each other in terms of value. July 2020 below as an example. However the picture for a sharp angle is very different. This is not unique to this asset pair, it can be found many times over many asset types.

Ww


July 2020 - low angle

May 2019 - sharp angle
Trade active
Comment:
Returns since the year began:

Gold 10%
Bitcoin 60%

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

ETH
0x9f9b2d80747ac09d2d7bb63761e10b9a9738df52

Allow 3-6 months on ideas. Not investment advice. DYOR
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.