The data revealed the remarkable price performance between Bitcoin (BTC), Ethereum (ETH) and gold.
On-chain analysis platform Glassnode; For Bitcoin, Ethereum and gold 2023 made a performance evaluation for the year. In the data presented, the success of Bitcoin and Ethereum against gold attracted attention.
Bitcoin versus gold since the beginning of the year 93%Ethereum is against gold 39% showed an increase. Ethereum, Bitcoin It has maintained an almost continuous downward momentum against it throughout this year. In this regard, it could not perform as strongly as Bitcoin against gold.
The chart below compares Bitcoin and Ethereum prices in terms of gold and performs performance analysis in line with this comparison. While Bitcoin gained +93% in value compared to gold in 2023, ETH increased by +39% in terms of gold. This strong performance may be due to global uncertainty, which is likely to attract the attention of many traditional investors.
Is altcoin season here?
The report presented by Glassnode stated that an altcoin season has begun against the dollar, but this has not yet occurred against Bitcoin.
Current situation for Glassnode altcoins May-July 2022 He stated that it was similar to his period:
Our “underseason” indicator marked the first meaningful appreciation against the dollar since the last peak of the cycle. However, there was no such increase against Bitcoin. It should also be noted that this is happening in an environment where Bitcoin market value has increased by 110% since the beginning of the year and Bitcoin’s dominance continues to increase.
In the statement made by the company, it is valid for both Bitcoin and altcoins. Since November 2021 “biggest ever seen”riskIt was also stated that the ” signal came. The risk signal usually comes after assets experience a prolonged rise or the market is trading above its value.