15 or 25 Next for Bitcoin/Gold Could Be Profound The ounces of gold equal to a Bitcoin, at about 20 on Oct. 31, may be at greater risk of falling toward 15 than heading to 25, with implications for risk assets. My graphic highlights the Bitcoin/gold cross first reaching this inflection point at the start of 2021, on the back of the biggest money pump in history. That Bitcoin's 260-day volatility has averaged about 3x gold's for almost five years, while the crypto's performance has been flat, puts Bitcoin in the category of a relative dud. Can the first-born crypto prove that it's not a has-been and show divergent strength? The Bitcoin/gold cross staying above 20 would indicate recovery, with implications for the stock market. My graphic highlights Bitcoin/gold's close connection with the Nasdaq-100 Index and the wide crocodile-jaws pattern now. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tnihbukip3ip {BI COMD} #Bitcoin #gold #stocks @BBGIntelligence