Whether you want to call it a textbook breakout or a blow-off top, the move in bitcoin over the last two days has been something to behold. Think about it this way. In the last two days, bitcoin’s price has risen by $3,926 or roughly 20%. That’s a pretty incredible move even for bitcoin, but it’s even crazier when you consider the fact that at its intraday low in March, bitcoin’s price ($3,914.7) was lower than the gain in the last two trading days!
With bitcoin’s surge in the last two days, the ratio between bitcoin and gold is also making a run for its record high back in late 2017. At current prices, one bitcoin will buy you 12.3 ounces of gold. That’s still 2.5 ounces below the record high, but as recently as last Friday (12/11), the ratio was less than 10. Click here to view Bespoke’s premium membership options for our best research available.