I read that once upon a time, Bitcoin correlated with gold, and this was proof that it was perceived as an asset in which to hide when the dollar was weak or stocks were unstable. But unfortunately, I also often see that lately Bitcoin has become exactly the asset that investors are trying to get rid of in the first place, and keep stocks, even if they reduce them in their portfolio. All this looks like a mistake, because everyone knows that Bitcoin is now undervalued, and its price is excellent, unlike the same gold, which many traders continue to buy, not realizing that they are entering the asset at the peak of the price...
Everyone decides for themselves - they will be their own bank, choosing Bitcoin, or they will work with intermediaries. As well as the fact that he will be his own casino, trading not carefully .
Since we often talk about the charts of Bitcoin and Gold against USD, why not take a look at how things are going on the BTC/GOLD chart itself:
And this indicator of the pair is falling, because gold is strengthening without strong corrections, and Bitcoin has been weakening lately. And only now, after seven red candles (months), the fate of the candle, which is still green, is being decided. Although there is still more than half a month ahead.
If the candle is fixed below the support line, it will be possible to say that the trend is broken. And the fall is ahead...