@ziperune21
Bitcoin has disappointed on a macro level in recent months thanks to staying rangebound while other assets head higher.
Prior to last week’s mass sell-off, both gold and United States stocks indices were hitting records — while Bitcoin failed to copy them.
Now, Capriole’s Edwards says, there may not be long to wait.
Uploading a chart comparing BTC price action to that of gold since late 2019, Edwards concluded that once gold begins a new trend, Bitcoin simply requires time before following suit.
Overlaying XAU/USD onto BTC/USD, it becomes apparent that the latency period for Bitcoin is around three months.
“As a rough rule of thumb, macro Bitcoin trends are often lagged behind gold by a few months,” he commented.
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