Bitcoin Rally Leaves Gold Behind
Ashraf Laidi | Nov 02, 2023 01:41AM ET
As Powell's press conference drove down bond yields on his statement about the upcoming tightening of conditions (reducing the need for further hikes), Bitcoin rallied higher alongside equities. Now that the Bitcoin/Gold ratio is well above 16 (17.9) the highest since May 2022, the implications for further run-up are enormous. If you take a closer look at last week's video about the importance of the 16.0 Ratio, you will appreciate its historical effectiveness regarding Bitcoin's inflection points (upside and downside).
Here's the video again illustrating the inflection points since autumn 2020
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