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