In recent days, interest has been growing regarding the dynamics of gold compared to Bitcoin, which leading experts are discussing. Peter Brandt noted that gold is in a bear trend against Bitcoin.
Gold Remains in Weak Trend Against Bitcoin
Commodity trader Peter Brandt claims that gold is in a long-term bear trend against Bitcoin. He shared a chart showing that the XAU/BTC ratio has been in a persistent downtrend for over a decade.
Gold's Comeback on the Market
Today, gold, seen as a popular safe haven asset, surged to a two-week peak of $3,407. Growing odds of rate cuts by the U.S. Federal Reserve are contributing to increased buying. Reports indicate that rising trade tensions are also fueling gold's rally. Previously, on April 22, gold reached an all-time high of $3,500 after significant tariffs were imposed by the U.S.
Bitcoin's Outlook Against Gold
Gold is up 29% year-to-date, outperforming Bitcoin, which has only increased by 24%. Some experts, such as Mike McGlone, have noted that the Bloomberg Galaxy Crypto Index has barely matched the gains of the S&P 500 this year, indicating poor performance of the asset class. There were forecasts that Bitcoin would outperform gold in the second half of the year, but it only briefly surpassed gold in returns in July.
Thus, despite gold's current rally, experts emphasize that its long-term trend compared to Bitcoin remains under the pressure of a bear trend. Analysis indicates that Bitcoin may show better results in the future.
