Over the past 12 months, we’ve seen an interesting phenomenon: the correlation between the performance of Bitcoin’s price and that of gold, the traditional safe haven for stable currencies, has increased, according to data from blockchain analytics firm Glassnode.
On a 30-day, 90-day and 365-day basis, the two assets exhibit a high degree of positive correlation that remained high during the recent U.S. banking crisis a few weeks ago.
In 2023, a total of 6.2 million BTC will return to profitability (32.3% of supply).