Bitcoin and cryptos will be a dog of an investment in a crisis or when the share market falls a lot.
Gold will outperform and stocks like BGL will outperform POG. See this chart below.
From my own research few months ago I had come to the view that Bitcoin was highly correlated to the Nasdaq ie tech stock valuation. Just found this chart by accident which supported my view. Its sourced from Bloomberg by Crescat capital. I was stunned how correlated Bitcoin is to tech stocks. If tech stocks fall it will take Bitcoin with it.
Note that Bitcoin is leveraged to the Nasdaq by 3 times in the chart. ie Bitcoin is a much better way to trade tech stocks than buying them directly if one is a bull on tech stocks.
Charts!, page-658
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Last
$1.30 |
Change
0.005(0.39%) |
Mkt cap ! $1.657B | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.30 | $1.25 | $9.627M | 7.524M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 158111 | 3 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| BGL (ASX) Chart |