Are there any relationship between Gold and Bitcoin ?

Cherylstar86

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Quote from: BuNga_cute on August 27, 2021, 07:59:28 PM

Quote from: chichigirl on August 27, 2021, 07:30:23 PM

Quote from: raji1995naya on December 27, 2020, 04:40:53 PM

Hello Everyone,
Wish you a Merry Christmas!

I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?

Both have some value and different usage but I think the price of gold amd bitcoin doesnt have any effect with each other.

There is no relationship between Bitcoin and Gold, so the price movements of the two are not related at all, Bitcoin and Gold have different markets.
Because their uses are also different, indeed Bitcoin and Gold have similarities, but that doesn't mean they influence each other. So investing in both
will provide maximum profit for us as investors, Gold and Bitcoin are both very profitable assets if held long term. But because the price of Bitcoin is
much more volatile than Gold, I am currently only focusing on investing in Bitcoin. Because I think investing in Bitcoin can generate a much bigger
profit than investing in Gold.

Indeed. They don't have any correlation with each other. It might just a coincidence that bitcoin pumps and gold dumps. In the first place, they are far too different and having relationship with each other might not be possible. Inflation of gold is not also related with the volatile market of bitcoin. But I think BTC is on the way to become digital gold. With more years pass people treat it liket that.

BuNga_cute

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Quote from: chichigirl on August 27, 2021, 07:30:23 PM

Quote from: raji1995naya on December 27, 2020, 04:40:53 PM

Hello Everyone,
Wish you a Merry Christmas!

I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?

Both have some value and different usage but I think the price of gold amd bitcoin doesnt have any effect with each other.

There is no relationship between Bitcoin and Gold, so the price movements of the two are not related at all, Bitcoin and Gold have different markets.
Because their uses are also different, indeed Bitcoin and Gold have similarities, but that doesn't mean they influence each other. So investing in both
will provide maximum profit for us as investors, Gold and Bitcoin are both very profitable assets if held long term. But because the price of Bitcoin is
much more volatile than Gold, I am currently only focusing on investing in Bitcoin. Because I think investing in Bitcoin can generate a much bigger
profit than investing in Gold.

24Kt

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Quote from: xwshamim on August 27, 2021, 02:46:38 PM

I Don't think there is a relation between them both are the kings of different markets. So they pumps and dumps in their own way

They have their own respective markets so I believe, they exist independently with each other. Besides, gold market has been here for centuries and it is one of the established markets globally. Gold doesn't need bitcoin to survive but on the other note, bitcoin needs gold. Because miners are using these equipments that require gold as integral component of the equipment.

chichigirl

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HELENA

Quote from: raji1995naya on December 27, 2020, 04:40:53 PM

Hello Everyone,
Wish you a Merry Christmas!

I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?

Both have some value and different usage but I think the price of gold amd bitcoin doesnt have any effect with each other.

iv4n

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Peter Schiff wins debate over whether gold is a better store of value than BTC - https://cointelegraph.com/news/peter-schiff-wins-debate-over-whether-gold-is-a-better-store-of-value-than-btc

Quote

Schiff was facing off against Skybridge founder and former politician Anthony Scaramucci in a debate hosted by Intelligence Squared on Wednesday

Interesting debate, I can't say I agree with the winner, I belong to the group that would vote for Bitcoin! But looks like the majority of people still prefer gold over crypto, Bitcoin specifically! If you read the article you can see the main arguments from both sides and decide who has better ones by yourself!

Gold and Bitcoin are stores of value, both in their own way! Gold can be used for other things, while Bitcoin lives only in a digital way! But I think Bitcoin has its own advantages, that will be more welcomed in the future! If you hear what Schiff has to say, you will see why people prefer gold, but I believe they are not aware of the future that's coming!

xwshamim

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https://t.me/xwshamim

I Don't think there is a relation between them both are the kings of different markets. So they pumps and dumps in their own way

Pasa32

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May be there is a situation that the Gold and Bitcoin have something common in their features due to which they will be some relationship between then but i don't even think so, like we can say that in trading every thing can happen , and we can't say about anything from ourselves.

Alisha-k

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Quote from: raji1995naya on December 27, 2020, 04:40:53 PM

Hello Everyone,
Wish you a Merry Christmas!

I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?

I noticed this as well during the last NFT on the 6th of August, while gold fell btc bumped and the further gold went down the higher btc climbed I'm still trying to figure out if there could be any relationship between the two, But my confusion is that bitcoin is fully decentralized while gold is 100% centralized and this is why I can't conclude yet if both has any relationship

Jackings

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Quote from: lixer on August 26, 2021, 01:18:08 AM

Quote from: Jackings on August 25, 2021, 12:14:21 PM

Of all the ideas I've come across as a digital currency when it comes to cryptocurrency, I think bitcoin is the most popular digital currency in the world compared to gold. So at present it is possible to make a lot of profit by investing in Bitcoin as compared to gold. The value of this cryptocurrency bitcoin has already moved closer to $50k and will increase the most in the future.

Yeah, price could be independent or related depending on the situation, like last march when the covid hit, the price of gold was not doing good in my nation, while price of bitcoin crashed as well, that is a relation, but gold prices didn't rise as much as bitcoin prices did, from 4k to 64k is a 16x increase and gold DEFINITELY didn't do that, that would be like world's biggest news ever if gold ever did that, it goes up a little and goes down a little.

So, relation as in price? Maybe. Relation as in the way people use? Definitely.

However reality is that the way people use it is definitely similar, people use them for store of value, dollar (or any fiat) gets less and less valuable over time and that means that people could use gold or bitcoin to save their value instead of letting them rot in fiat. Which is why I %100 believe that their logic are one and same.

Your argument is correct, however Analysts believe that financial institutions are leaning towards Bitcoin as an asset. Bitcoin users think that Bitcoin is taking the place of gold as an asset. Analysts are speculating. The US dollar may depreciate in 2021 - fearing that the price of bitcoin may rise further this year. At the onset of the Corona epidemic, investors turned to the dollar to find reassurance amid uncertainty. This increases the value of the dollar. But later the dollar fell due to several incentive packages. As well as transactions like PayPal or payment gateways are now starting to accept digital currency, Bitcoin. Paolo Ardiono, chief technology officer at cryptocurrency exchange Bitfinex, told The Guardian. The digital currency market has never been so buoyant. As a result, the future of Bitcoin owners is very bright. So I think investing in Bitcoin compared to gold at the present time can improve in the future.

lixer

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Quote from: Jackings on August 25, 2021, 12:14:21 PM

Of all the ideas I've come across as a digital currency when it comes to cryptocurrency, I think bitcoin is the most popular digital currency in the world compared to gold. So at present it is possible to make a lot of profit by investing in Bitcoin as compared to gold. The value of this cryptocurrency bitcoin has already moved closer to $50k and will increase the most in the future.

Yeah, price could be independent or related depending on the situation, like last march when the covid hit, the price of gold was not doing good in my nation, while price of bitcoin crashed as well, that is a relation, but gold prices didn't rise as much as bitcoin prices did, from 4k to 64k is a 16x increase and gold DEFINITELY didn't do that, that would be like world's biggest news ever if gold ever did that, it goes up a little and goes down a little.

So, relation as in price? Maybe. Relation as in the way people use? Definitely.

However reality is that the way people use it is definitely similar, people use them for store of value, dollar (or any fiat) gets less and less valuable over time and that means that people could use gold or bitcoin to save their value instead of letting them rot in fiat. Which is why I %100 believe that their logic are one and same.

Jackings

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Activity: 49

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Of all the ideas I've come across as a digital currency when it comes to cryptocurrency, I think bitcoin is the most popular digital currency in the world compared to gold. So at present it is possible to make a lot of profit by investing in Bitcoin as compared to gold. The value of this cryptocurrency bitcoin has already moved closer to $50k and will increase the most in the future.

kapalmabur

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Quote from: Victorycoin on August 24, 2021, 04:24:38 AM

Quote from: raji1995naya on February 05, 2021, 03:16:17 PM

Quote from: samputin on January 31, 2021, 03:04:18 AM

Quote from: Rasel5209 on December 28, 2020, 04:35:29 PM

Bitcoin and gold to deference currency. I think don't have any connection in there. If you follow bitcoin price chart you saw that bitcoin price all time increase and decrease but gold price can not increase and decrease in same way.
So i think don't have any relationship between Gold and bitcoin.

I disagree with you, all cryptocurrency is related to each other but the bitcoin is most demand crypto. There are several crypto currency that can be use to exchange in local currency, my point is the other crypto like gold need to trade on other currency like bitcoin before local currency that will become fiat. Indeed, if they trade both, the stock of bitcoin will decrease and the value will increase and the stock of gold will increase so the value will decrease.

So I want you to make an analysis about last week. If you carefully analyze it you can see that starting from Monday Gold was selling and Bitcoin started to pump. This is one example for my point.

Gold sells better it has nothing to do with bitcoin is decentralized but is able to change if the government wants it for gold comparing bitcoin digital currency to gold will not have any effect on the price of bitcoin. Maybe the use of bitcoin is increasing in the market for which its price is increasing bitcoin has more opportunities than gold.

It seems so that neither gold and bitcoin have anything to do,
and if speaking both for me it is a promising investment regardless of whether it has a big risk or not,
indeed the more we come here we can see that more and more people are getting into cryptocurrency

dimonstration

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Dimon6969

Quote from: ?? on ??

I read most of your ideas and I respect each. Most are saying there is no relationship but still I m sitting on the same idea by looking at the recent crash of Gold and the sudden rise up of BTC.. Shocked

Maybe it justin as some investors shift their investments from gold to crypto, I have some friends who stop stocks and shift in crypto maybe same with stock crash happens in gold, it will depend in the status of our investment or how we see the potential rise of bitcoin now than in gold.

Victorycoin

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Quote from: raji1995naya on February 05, 2021, 03:16:17 PM

Quote from: samputin on January 31, 2021, 03:04:18 AM

Quote from: Rasel5209 on December 28, 2020, 04:35:29 PM

Bitcoin and gold to deference currency. I think don't have any connection in there. If you follow bitcoin price chart you saw that bitcoin price all time increase and decrease but gold price can not increase and decrease in same way.
So i think don't have any relationship between Gold and bitcoin.

I disagree with you, all cryptocurrency is related to each other but the bitcoin is most demand crypto. There are several crypto currency that can be use to exchange in local currency, my point is the other crypto like gold need to trade on other currency like bitcoin before local currency that will become fiat. Indeed, if they trade both, the stock of bitcoin will decrease and the value will increase and the stock of gold will increase so the value will decrease.

So I want you to make an analysis about last week. If you carefully analyze it you can see that starting from Monday Gold was selling and Bitcoin started to pump. This is one example for my point.

Gold sells better it has nothing to do with bitcoin is decentralized but is able to change if the government wants it for gold comparing bitcoin digital currency to gold will not have any effect on the price of bitcoin. Maybe the use of bitcoin is increasing in the market for which its price is increasing bitcoin has more opportunities than gold.

ReiMomo

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Duelbits - $100k Bonus/week

Its more or less related to each other. I see bitcoin as an asset when compared to Gold. I remember, Gold value was really increasing in April 2021 and at the same time, the Bitcoin value really peaked as well. It depends on huge / big investors in the market. Let me say, the market is depend on few big hands rather than small investors. Its they who manipulate the market, let it be gold or bitcoin.

Qirtov

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Gold is a precious metal that acts as a safe haven. BTC is a new digital currency that aspires to be like gold. But currently its use is more as a means of speculative investment so the price is not stable. The relationship between BTC and gold prices can be seen by correlation analysis . This analysis compares the performance of various asset classes on the same time frame over time. Gold and BTC move in opposite prices. When BTC falls, investors move their money to safe havens such as gold. However, this correlation coefficient analysis is not completely absolute. If you look at past history, the interpretation of this analysis may change so you need help with other analysis confirmations such as looking at price action and price trends.

Hendra gunawan

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The Standard Protocol - Solving Inflation

Of course bitcoin and gold have a relationship. Bitcoin and gold are both the most popular commodities. When interest rates fall, investors will buy other investments such as gold and bitcoin. That's why the price of bitcoin and gold was able to rise in the last year.

Pasa32

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I didn't know much about forex but i want to say something that due to bitcoin there will be more coins like Gold and etc that it have an impact on these coins but the way in trading it behaves like volatile and also we know that we can only predict and can't say 100% truly about a coin that it reaches to the target.

Karish2return

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I can say that they don't have any relationship in between because there are many other coins that when bitcoin rises there price also rise, and it also happens many times but i wanna say that it doesn't mean that they are related to bitcoin. It is trading and in trading everything can happen, because the market is volatile.

Artime

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You can definitely draw certain parallels and understand that there is something in common.

Topic: Are there any relationship between Gold and Bitcoin ? (Read 824 times)