At BeInCrypto, we offer regular price analyses and predictions of the most popular and relevant cryptoassets. Today, we are beginning a weekly series in which we compare price fluctuations of Bitcoin (BTC), gold, and silver.
We begin by looking at the current trading pattern of gold, silver, and Bitcoin alongside moving averages. A comparative analysis is then performed followed by a summary of our findings.
Is Bitcoin a better investment tool than gold or silver?
Let’s find out.
What’s Going on With Gold?
We begin our analysis by looking at gold. The price of Gold ($/OZ) is analyzed at one-day intervals from Aug 2018 to Apr 2019 alongside the 150- and 200-day moving averages in order to trace the current pattern.Moving averages are tools used in technical analysis to smooth out price action. They are a lagging indicator because they are based on past prices. The relationship between short and long-term moving averages can help in identifying the beginning and end of a trend.
The price of gold has been on an uptrend since Aug 2018, when it made lows of $1160/oz. It reached highs of $1350 on Feb 17, 2019. This amounts to an increase of 16%.
Since then, it has been trading inside a symmetrical triangle. The 150-period and 200-period MAs are shown alongside the triangle in the graph below:

Don’t Forget Silver
The price of Silver ($/OZ) is analyzed at one-day intervals from Jan to Apr 2019 alongside the 150- and 200-day moving averages in order to trace the current pattern:
A Look at Bitcoin
The price of BTC/USD is analyzed at one-day intervals from Oct 2018 to Apr 2019 alongside the 150- and 200-day moving averages in order to determine Bitcoin’s current trading pattern:
Comparing April Performances
The price of BTC, Gold (yellow) and Silver (purple) is compared at six-hour intervals from Apr 1 to Apr 23. The right-hand scale presents the percentage increase/decrease of the three assets during the month of April.
Summary
As evidenced by the charts above, we can come to the conclusions that the price of BTC has experienced significantly more volatility than that of gold or silver. It has however experienced gains of over 30% throughout the month of April while both silver and gold have seen losses. Nonetheless, Bitcoin is still trading below the $6400 levels. Gold, on the other hand, is trading above these levels despite its recent decline. Furthermore, the 150- and 200-period MAs for silver and gold have made a bullish cross whereas those for Bitcoin have not. In addition, the Federal Reserve has announced that it might keep its interest rate hike policy on hold through next year. Historically, this has caused investors to seek hard assets like gold. In turn, the price of gold typically increases. Digital assets like Bitcoin might also to prove a desirable investing mechanism if the interest rate hike policy is put on hold. Thus, while gold and silver may begin an upward trend, Bitcoin is currently performing better than both. Next week, we will assess the price of gold, silver, and Bitcoin to determine which has had the best April performance. At the current moment, Bitcoin is winning. Interested in 2019, 2020, and 5 year Bitcoin price predictions? Click on the green button below: Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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