Gold or Bitcoin - Which is the better hedge for 2024?

Short answer: Bitcoin

By the year end Bitcoin shall enjoy stronger gains. That is despite the 2-week Gravestone DOJI candle now currently printing on Bitcoin, which makes you wonder… what heinous price action awaits gold bugs?

On the above 3-day chart a ratio of Gold/Bitcoin is shown. If this ratio is downtrending (it is), Bitcoin will be worth more than Gold with each passing week and vice versa.

A Death Cross has now printed on the above 3-day chart after broken market structure. Expect the ratio to climb to confirm past support as resistance.

The 3-day death cross is significant. Look left. The last 3-day death cross printed on March 2016 (below). Gold lost 99% of its value against Bitcoin from that time. Now I’m not saying that is going to repeat, however the point would be that a 3-day death cross is not something you ignore.

Ww


3-day Death cross March 2016


Last year (2023) and the years before the same question:

Which is the better hold for preserving ones wealth?
In 2023, it was Bitcoin.

2023 idea


In 2022, it was Gold. Idea below. Bitcoin correction throughout 2022 made Gold the only option during the bear market.

2022 Idea