Bitcoin to Gold Ratio at Long-Term Support Trendline

The bitcoin to gold ratio – which measures the bitcoin price in gold ounces – is at a potential support level. The trendline connects the monthly closing lows of 2019, 2020, and 2023. If the trendline holds, bitcoin could find its next major low against the yellow metal.

The bitcoin to gold trendline is still holding

The trendline shows that the bitcoin price in gold has consistently made “higher lows”. It’s also made slightly “higher highs” in that time. In November 2021, the ratio tagged 37 ounces of gold to buy one bitcoin. Then in December 2024, it reached an all-time high of 41. 

Those higher highs and higher lows mean bitcoin is still technically in a long-term uptrend versus gold.

Is bitcoin a better buy than gold here?

The bitcoin price last peaked at around $126,000 in October – that’s only about three months ago. Most bitcoin bear markets last much longer. 

But against the gold price, bitcoin peaked more than a year ago. That’s about on par with past bitcoin bear markets. 

Gold is up around 25% since October, while bitcoin is down 50%. And buying near support tends to work out better than buying near resistance. That’s what a contrarian investor would do.

Just keep in mind that the ratio can rise even if both investments lose value dollars.

As usual, none of this is investment advice. To learn more about how to use trendlines in your investment strategy, check out our Trendlines Explained guide.