Bitcoin has been losing value against gold for 6 months.

In the last six months, Bitcoin has seen a significant value loss against gold. Bitcoin (BTC) has continued to lose value against gold in January, widening the gap between them. The Bitcoin-gold ratio, seen as one of the important indicators for investors, has dropped by 23% to a level of 16.3.

The economic and geopolitical uncertainties in global markets seem to have driven investors towards traditional safe havens. This situation raises questions about Bitcoin's title as digital gold, while accelerating the shift towards physically safer gold. This six-month performance, reminiscent of the cycle in 2019, continues to attract the attention of investors.

The Bitcoin-Gold cycle, which began in August 2019 and ended in January of the following year, is currently almost identical to Bitcoin's performance against gold. During that time, Bitcoin outperformed gold and showed a strong upward movement. Bitcoin (BTC) is currently trading around $82,000, while gold has lost approximately 8% and silver has also lost 16%, showing slight recovery in the ratio.

Since the peak level at the end of 2024, Bitcoin (BTC) has lost 60% of its value against gold. Technical analyses indicate that Bitcoin has been in a bear market against gold for about 14 months. Analysts emphasize that the current ratio may have reached a low level, but this does not necessarily mean a significant upward movement. What signals might past similar cycles provide for the cryptocurrency market this time? The coming months could be quite volatile.