bitcoin priced in ounces of gold over the last five years
Discussion
Not too bad🤔
One commodity money feeding a harder commodity and vice versa
Not that bullish is it?
Nope. But it still has an intact uptrend on the log chart, as does BTC/SPX. So this chart is not super bullish but trends still say BTC > Gold
🚀
The only chart that ultimately seems to matter
The main reason is we still need non-Bitcoin to buy food, shelter, utilities etc. Essentials so to say! All companies providing goods and services at the moment, have to be replaced by a Bitcoin company. That circulation, sends Gold to its metallic utility value.
Patiently waiting for 2023 dip.
Looks like a decent time to convert.