Silver vs Bitcoin

A long time ago I wrote a post Fight!!!! Silver versus bitcoins. It was way back when 1 ounce of fine silver had recently been overtaken in value by 1 bitcoin. At the time bitcoin had stormed past silver’s all time high aswell.

Heres a chart from that old post for the sake of nostalgia; (It was quite painstaking to create that chart lots of manual scaling and layering of images but I managed to make it pretty accurate.)

Image

So I wonder where are we today in that epic fight of bitcoin versus silver? A lot of time has elapsed. Things have changed. It pains me to write this because I openly admit I really really like silver. The feeling of holding an ounce of silver in your hands. The history of silver, as money. The purity of silver, everything about it, and it looks fantastic too.

But it just cannot be denied silver is getting trounced!

Heres a similar chart, up to date (and much easier to produce now that I have TradingView website).

The line way down at the bottom which is gently declining is silver, while that wild mountainous jagged layout is the familiar bitcoin chart. The rectangle shows rough area covered by the first chart at top of post.

As I write 1 bitcoin is valued 33 times more than 1 ounce spot price of silver. That is after a huge 2 year decline in bitcoin, although admittedly bitcoin is up after those lows.

Heres another way to look at the fight of silver versus bitcoin. This chart is showing the ratio of bitcoin / silver. I was intrigued by this chart earlier this evening. I like this view because it cuts fiat out of the chart completely. Note I’m using a log price scale here.

As you can see I’ve drawn a long term bull channel (bull for bitcoin not silver) and a shorter term bear channel is also included during bitcoins recent bubble collapse. The bit that intrigues me the most is the lowest bull trendline which was very well defined a few years ago and only recently hit again during bitcoins lows. But look how well defined that trendline is. Almost makes me wonder if I should switch to using silver as my scale of value instead of US$. Actually a feeling I get when looking at gold ratio too.

Anyway I am invested in silver and still a believer in its monetary properties. But I have to say most of my attention is focused on crypto and I think that is the way the tide is turning in general too.

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3 thoughts on “Silver vs Bitcoin

    1. I would love to see that too! Thanks for sharing that article, it looks quite normal today that bitcoin is way above silver, that gives some perspective.

      If I may, is silver really relevant for your charts regarding how manipulated it is?

      1. I’ve been wondering how this fits to the silver is manipulated view aswell. Not sure what to make of it really. Could it be silver market is not as manipulated as I think? But then again what is the silver market, about 95% paper 5% metal or something? In a way silver spot price is a bit like a hard backed paper currency. There is metal somewhere but its largely a paper market. Just letting my mind wander.. lol. I doubt I’ll post many silver ratio charts but it is something of interest to me.

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