This one comes as a request (because we do requests) from reader PA, who couldn’t find a chart that shows the recent relationship between the price of gold and Bitcoin. After a medium-sized search I couldn’t either, which was slightly weird, but I did find a database of daily Bitcoin prices (taken “end of day” and though I’m not sure which time zone or who’s day, on a daily basis they’ll do just fine).
As for gold the price of GLD is chosen, because it’s (just a touch less than) 10% of the bullion price, it’s makes a cleaner ratio chart thanks to Bitcoin’s own price range, it’s an easy database of daily closes to find.
So without further ado…
By way of a little commentary, the downwards slope direction means that Bitcoin (BTC) has been performing comparatively worse than gold. However (and the basic reason PA got in touch, his hunch was right) for the last month BTC has flatlined against gold and may even be showing signs of improvement.