Analyst who knows every step of Bitcoin: This graph is very interesting!

Compared to the valuable metal with the scarce supply and orange brand, the crypto currency has declined in recent weeks against gold. Experienced analyst and Trader Peter Brandt recently pointed out the situation of Bitcoin (BTC) against gold.

Interesting Bitcoin and Gold Chart from Peter Brandt!

Legendary analyst Peter Brandt, who attracted attention to the price movement, said that Bitcoin’s inability to move away from precious metal was “very interesting .. Brandt, which shares a daily graph showing the ratio of Bitcoin, shows that the digital asset may have reached the peak in the face of precious metal. The graph reflects the formation of a possible pair of hills at high levels of 40 ounces per BTC after a multi -year Bitcoin rise.

In particular, after a 38.5 ounce summit on January 30, economic uncertainty triggered a large price collapse and caused 33 ounces on February 3. Since then, Bitcoin (BTC) has been forced to recover from this level and is currently changing hands at 33.85 ounces.

BTCXau daily candle graph showing possible double peak formation. Source: Peter Brandt

The changing dynamics appear to be in the midst of economic uncertainty because of the market’s inflation concerns and now the fear of trade war. Kriptokoin.comAs you have followed, US President Donald Trump re -offered these flames of economic uncertainty by explaining that it would implement new import tariffs this week.

Isn’t the digital gold status still reached?

The contrast in the reaction of Bitcoin and gold to the latest economic events shows that most investors are looking cold, despite the discourse of BTC is digital gold. He also points out that the yellow metal continues to prefer the security of its tens of years of history. Time will show whether this will change in the near future. Nevertheless, the defenders of the digital being optimize that several countries, including the US, consider reserves.

Bitwise CIO Matt Hougan had previously suggested that it could be a catalyst that enables Bitcoin to get more market share and increase to $ 500,000. In terms of context, Bitcoin’s market value is about 2 trillion dollars, while the gold is over $ 19 trillion.