Bitcoin and Gold: Similarities in 2019

Bitcoin's Monthly Losses are Increasingly Persistent

Bitcoin is preparing to close with a red candle for the sixth consecutive month against gold. This situation was last observed during the 2019-2020 period. Over the last 24 hours, the sharper value decline of gold and silver compared to Bitcoin has brought the Bitcoin-gold ratio back to approximately 16.3. The ratio had briefly declined to around 15.5.

Performance Differences Between Gold and Bitcoin

A potential dip within this ratio may not indicate that Bitcoin is performing strongly. On the contrary, this situation may reflect the continuous weak performance of gold against Bitcoin. Investors need to carefully monitor this performance disparity.