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Bitcoin Breaks to 18 oz Gold

by Ashraf Laidi
Nov 8, 2023 11:19

Bitcoin/Gold ratio has just hit $18/oz, the highest since May 2022, when the ratio began crashing as the Fed began the first of 75-bp hikes. Returning to the level prior to the ratio plunge is significant. I've indicated in a recent video how the $16/oz BTC/XAU ratio served as an effective green light for inflection points (rallies & declines) in bitcoin. And to understand why I choose to compare BTC vs GLD, here is a reminder. 

 

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Bitcoin Breaks to 18 oz Gold - Bitcoin Gold Nov 8 2023 (Chart 1)

 
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