Introduction
Analyzing the financial attributes of cryptocurrencies (excluding stablecoins) like BTC, ETH, and SOL raises a critical question: Should they be viewed as digital gold (wealth storage) or tech stocks (growth assets)? Let’s dive into the data from the past year to uncover insights.
BTC Attribute Analysis
Is Bitcoin more akin to digital gold or tech stocks? Using TradingView’s CC Moving Correlation Coefficient tool, we found:
- Over the past year, Bitcoin exhibited tech stock attributes for ~5 months.
- Only in the last 2 months did it shift to a gold-like store of value, potentially acting as a hedge against equities.
ETH Attribute Analysis
Applying the same BTC template to ETH/USD:
- Ethereum showed tech stock attributes for ~6 months.
- Its gold-like properties emerged only in the last 2 months, reinforcing its stronger alignment with growth assets.
SOL Attribute Analysis
For SOL/USD:
- Solana mirrored ETH, with 6 months of tech stock dominance.
- Its gold-like phase lasted just 1 month, highlighting its even stronger tech stock leanings.
Key Takeaways
Using moving correlation coefficients, we evaluated each blockchain token’s financial properties:
BTC: Most "gold-like" among the three, but still tech-dominant.
- Gold/tech ratio: 0.4 (i.e., 40% gold-like phases).
ETH: Stronger tech stock attributes than BTC.
- Gold/tech ratio: 0.33.
SOL: The most growth-oriented.
- Gold/tech ratio: 0.17.
Hierarchy of "gold-like" traits:
👉 BTC > ETH > SOL
FAQ Section
Q1: Why does Bitcoin’s attribute shift matter?
A: It helps investors decide whether to treat BTC as a hedge (like gold) or a growth asset (like stocks).
Q2: Which crypto is best for long-term storage?
A: BTC leads in value storage, but ETH/SOL may outperform in bull markets.
Q3: How reliable is this correlation analysis?
A: Short-term trends vary, but the 12-month window smooths outliers.
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