Bitcoin vs Wheat Ratio and Technical Analysis

[wheatking16]

We believe that technical analysis can be applied to all types of assets, including those in agriculture.

By using ratio charts and comparing the performance of seemingly unrelated assets, we can better understand how different markets relate to one another.

It is amazing to see how technical analysis helps us track and measure the relative performance between assets, giving us valuable insights that can directly impact decisions on the farm.

Enjoy



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[wrongway]

It is an interesting chart but I have a couple of comments.

1. bitcoin is a finite nonfungible concept...cant hold it can't look at it, cant really use it yet. It is represented as a gold covered coin with a b on it oh and it is very easily lost for ever if you forget your password or lose your device. Whereas wheat is produced literally every 90 days on this planet, there really is no limit to how much wheat we will produce going forward. you can grow it, hold it, eat it, trade it for money, store it till prices rise if you so desire. you can sell it and make more. when you sell Bitcoin like gold its gone till you buy more.

2.crypto like electric vehicles are flashy shiny things that early adopters and bleeding edge guys like to buy just to say they have them and were in on the ground floor. compared that to the ugly smelly dirty old wheat that anyone can grow.

3. the mainstream media and elites have no interest in the energy requirements of bitcoin production and now AI consumption, compare that to how ag production is vilified almost daily.

4. It occurs to me that now mining for bitcoin with todays cost of electricity and computing power needed is probably just as profitable as producing a bushel of wheat...

Trents comments were for traders who really just need prices to move one way or another, they don't care up or down. Its all just zeros and ones and food will always be at the grocery store.

[biglentil]

Bitcoin has a track record of 15yrs as a store of value and is held by zero central banks that I know of. Gold on the other hand has 5000yrs of history as money. For example, one widely reported statistic is that an ounce of gold bought 350 loaves of bread during the time of King Nebuchadnezzar of Babylon, who reigned during the 6th century BC.

This chart is outdated as it now requires an all time high of 406 bushels wheat to buy an ounce of gold. In the 70's that much wheat would buy darn near buy a new halfton.