Apr 17, · Bitcoin shows significant correlation with the S&P , and only minor correlations to gold, But its relationship with other indexes tells a more complete story. Jan 10, · The correlation between gold and bitcoin has reached its highest levels since August , according to a new study. Arcane Research, a cryptocurrency-focused data analysis firm, noted a steep direct proportionality between the two rival assets. Oct 30, · Bitcoin has certainly bridged the gap to Gold’s market cap but the correlation with Gold was already very low until the 3rd halving. End of 1st halving, it was 2% and around 11% during the end of 2nd halving. However, after the 3rd cycle in , the BTC-GOLD correlation jumped to 43%, thus inflicting further comparative analysis.
Correlation bitcoin goldGold Correlation With Bitcoin is at 4 Year High, And It's a High Bullish Sign
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As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Yashu Gola Nov 25, Bitcoin tails the gold market but with a delay. Analysts at independent analyst firm TradingShot highlighted the bullish fractal in their note Tuesday. They noted that Gold established its all-time high in July amid fundamentals that also supported the Bitcoin price rally.
The precious metal peaked near its 1. TradingShot analysts stated that Bitcoin is on the cusp of doing the same. First, the cryptocurrency would aim to peak out near its own 1. And later, it would correct lower just like gold has done throughout the last two weeks. Bitcoin-Gold correlation since September Where will Bitcoin's price go next?
Image: Shutterstock. Bitcoin has many faces. But at its heart, Bitcoin might best be described as an alternative monetary system that offers people monetary independence. That narrative, first forged during the financial crisis from which Bitcoin was born, is now being put to the test.
Like most all major assets, Bitcoin is clinging to the chart movements of everything around it.