A similar story holds for the Dow Jones Composite.
As well as the Dow Jones Financial stocks.
So what about crypto? Here’s an especially interesting chart. It shows Gold divided by Bitcoin. For years, this chart did nothing but crumble, since Bitcoin was throwing off multi-thousand percent returns. Notice how sharply the angle has changed, however. The collapse has stopped, and it seems to have stabilized and formed a good foundation. What this would suggest to me is that the days of Bitcoin slaughtering Gold are over, and in the “BTC vs. GLD” debate, gold actually has a fighting chance of winning the argument (plus, it’s nice to hold and look upon).
Finally, here is gold divided by the SPY. I’d make the same argument here that I made with Bitcoin: that it seems gold’s days of getting destroyed by the other asset are behind it, and if this “higher low” can hold, gold could be absolutely superb for years to come.
More By This Author:Diving Into Doughnuts: The Resurgence Of Krispy Kreme More Cuckoo Than EverGold Flying Higher
