Are there any relationship between Gold and Bitcoin ? - page 3.

Kittygalore

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Quote from: EvAng3l1on on February 01, 2021, 02:07:34 AM

Bitcoin and gold share the same purpose. They are both hedges against global insecurity, economic instability, and inflation. Both assets are intended to provide security for investments. However, GOLD is a physical asset that has many intended uses, which makes it a highly sought after resource while BTC still a virtual one which sometimes crypto traders used to trade at a particular exchange

Gold is more of Great Depression type of hedge but bitcoin is just a general unrest in the economy and I do not think that they share the same purpose. Bitcoin does not provide security like gold, remember that gold is still the chosen reserve by countries even though bitcoin is a far better option for security.

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As far as I know from bitcoin and gold, there is no relation whatsoever, gold will not be able to influence bitcoin price movements and vice versa bitcoin will not be able to influence gold price movements, but if you want to get a lot of profit then you can buy bitcoin and use bitcoin as much as you can, bitcoin will provide a lot of profit because of the influence of limited supply and very high demand.

What you know so far is right, bitcoin does not have any relation to gold. For me, the only relation that gold and bitcoin has is that people keep insisting that they have a relation, don't they know that there will be chances that the prices of both market goes down the same way, well if we will go that far, I think bitcoin, stock market, gold and airplanes have a relation, and that is all of them goes up and down.

CryptopreneurBrainboss

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Quote from: trickbergen5 on January 31, 2021, 10:56:51 AM

I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values.

We are the only one thinking there's a competition between both assets. The two are different and unique in their own ways. While one already has the trust of the people for been a safe heaven, the other is been seen as a very volatile (which it's), speculative assets that has no real life usages. The only relationship I can think off is both been a better alternative to the fiat system, if you're looking for a way to escape the Ponzi scheme called the fiat system, you can used that worthless fiats to buy gold (if you intend taking less risk).

Or buy bitcoin (if you'll be comfortable with the risk it posses) and do understand that it has greater chances of outperforming any assets since it's relatively new and has a better technology and mode of operation which is decentralized and also digitalized unlike gold that's the direct opposite.

EvAng3l1on

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Bitcoin and gold share the same purpose. They are both hedges against global insecurity, economic instability, and inflation. Both assets are intended to provide security for investments. However, GOLD is a physical asset that has many intended uses, which makes it a highly sought after resource while BTC still a virtual one which sometimes crypto traders used to trade at a particular exchange

fahmimajannat

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I don’t thing so. They are completely to difference things. But there is a coincidence that maked a dout. For the bull market both things price is going up and up. Even coincidentally both price have risen to twice from they were before.
But It's Just and coincidence. There is no connection between them.

trickbergen5

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We have no way of truly attaching a hard value to an ounce of gold, and it is not used as a currency. However, faith in the metal itself keeps it valuable – the value of gold is in the minds of those trading it - Bitcoin is valuable because those trading Bitcoin consider it to be valuable. Both are of limited quantity; both are considered a hedge; both are seen as an anti-fiat currency.

In many ways, Bitcoin seemed to be designed – whether intentionally or not – as a virtual form of gold. ]

I can only find their similiraties but in the eyes of most people, bitcoin and gold are in competition and would be trying to fight each other by increasing their values.

samputin

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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.

raji1995naya

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Quote from: fullhdpixel on January 03, 2021, 12:36:31 PM

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

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?

Not quite sure about that trend because I hardly invest in gold so not sure if that is true but I believe that there is literally no connection between a centralized and taxed asset opposite of a decentralized and digital asset. There might be relations like when the gold price is down it means that the trend is shifting towards more digital assets and investing so that might be the case.

I also think that in coming time all the physical assets will vanish and there will be better and safer assets built on the blockchain some centralized while some decentralized both offering way better value and ease as compared to physical assets like gold and diamonds.

Don't take it as physical assets. Coz Gold is also in the Crypto market too. (Digital Gold) And the thing is when a stimulus package release from the US government we can see a big pump of Gold and meantime we can see how the BTC behave with the package. May be we can expect some struggle of pumping BTC.

raji1995naya

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Quote from: redsun114 on January 04, 2021, 01:47:46 PM

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

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?

It’s negative for the both of them, although sometimes there are things that can happen and the market will look like they are going the same direction for sometime, this happens at times, and it can be some kind of serious event that can have heavy effect on every market.

Quote from: AjithBtc on December 30, 2020, 12:32:28 PM

Bitcoin and gold have a small connection in my opinion. Both gold and bitcoin were based on the demand to supply. With bitcoin it is completely associated with technology whereas gold is connected with the natural resource. Gold has got long years of history and the same has made it to be more valuable. With bitcoin, it is very young and much to be reached.

These two assets are very different from each other, they are not the same. I don’t even know who came up with the word digital gold for Bitcoin. Bitcoin is not gold, it doesn’t have anything to do with gold, they are different and their charts move differently, and it’s all relying on their level of demand and that of supply.

If you look at them very closely you can see the relationship between them. Most of the time if the Gold pump BTC is ranging or a little bit of dumping. And If the BTC pump gold is ranging or downwards. Sorry for replying lately coz I did an analysis about those two assets.

raji1995naya

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Quote from: redsun114 on January 04, 2021, 01:47:46 PM

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

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?

It’s negative for the both of them, although sometimes there are things that can happen and the market will look like they are going the same direction for sometime, this happens at times, and it can be some kind of serious event that can have heavy effect on every market.

Quote from: AjithBtc on December 30, 2020, 12:32:28 PM

Bitcoin and gold have a small connection in my opinion. Both gold and bitcoin were based on the demand to supply. With bitcoin it is completely associated with technology whereas gold is connected with the natural resource. Gold has got long years of history and the same has made it to be more valuable. With bitcoin, it is very young and much to be reached.

These two assets are very different from each other, they are not the same. I don’t even know who came up with the word digital gold for Bitcoin. Bitcoin is not gold, it doesn’t have anything to do with gold, they are different and their charts move differently, and it’s all relying on their level of demand and that of supply.

Digital Giold at as a stable coin according to my point of view. So I think it will be one of the upcoming best stable coins after USDT.

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

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?

It’s negative for the both of them, although sometimes there are things that can happen and the market will look like they are going the same direction for sometime, this happens at times, and it can be some kind of serious event that can have heavy effect on every market.

Quote from: AjithBtc on December 30, 2020, 12:32:28 PM

Bitcoin and gold have a small connection in my opinion. Both gold and bitcoin were based on the demand to supply. With bitcoin it is completely associated with technology whereas gold is connected with the natural resource. Gold has got long years of history and the same has made it to be more valuable. With bitcoin, it is very young and much to be reached.

These two assets are very different from each other, they are not the same. I don’t even know who came up with the word digital gold for Bitcoin. Bitcoin is not gold, it doesn’t have anything to do with gold, they are different and their charts move differently, and it’s all relying on their level of demand and that of supply.

fullhdpixel

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

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?

Not quite sure about that trend because I hardly invest in gold so not sure if that is true but I believe that there is literally no connection between a centralized and taxed asset opposite of a decentralized and digital asset. There might be relations like when the gold price is down it means that the trend is shifting towards more digital assets and investing so that might be the case.

I also think that in coming time all the physical assets will vanish and there will be better and safer assets built on the blockchain some centralized while some decentralized both offering way better value and ease as compared to physical assets like gold and diamonds.

Tahsin Kabir Kollol

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I don’t think there is any such relationship between bitcoin and gold. Although both have become two popular means of investment, they have different characteristics and different areas of effectiveness or use. Gold has been used as an ornament and medium of exchange since time immemorial and is widely used as a medium of exchange. The use of gold as a medium of exchange in foreign trade is widespread, especially due to sanctions in various countries. Bitcoin, on the other hand, is known as a medium of exchange, but it is subject to various restrictions worldwide. So it is not directly related that the price of bitcoin goes down when the price of gold goes up or the price of bitcoin goes up when the price of gold goes down.

fauzan123

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Quote from: raji1995naya on January 01, 2021, 05:56:24 PM

Quote from: jossiel on December 27, 2020, 06:31:59 PM

No, they are not.

This is the same speculation as stocks and bitcoin. Whenever the two have good and bad effects, the other is sometimes going with the flow or doing the opposite. That's the correlation that many have been speaking but in all understanding, they are not connected.

We seem to compare them because these two are the hottest assets that we have in the world. But if ever bitcoin moves and the other plunges, there's no connection to it. That's the only typical market that we see.

My point is Investors(Whales) are moving between Gold and Bitcoin. I didn't mean just one or two whales. I mean something larger moves with Billions, between these two. Coz I always note If BTC pump there is a dump of Gold.

I don't think it can be completely confirmed, because the movement of bitcoin itself can sometimes be different from the movement of gold. However, when this differentiator is compared to the major USD pairs as a benchmark, chances are it is. Because the movements that occur in the USD will also affect gold and bitcoin.

akar87

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Some time have relationship between gold and bitcoin, when gold raise higher price bitcoin allow to going up although have different change price between gold and bitcoin, for gold enough only 4% or 5% but bitcoin more than 20% raise higher price, I think less risk with gold become way why many people still invest with gold but many investor wanna get more by investing with bitcoin to raise much profit fasrer.

raji1995naya

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Quote from: akar87 on January 02, 2021, 02:30:02 AM

Quote from: Shasha80 on January 01, 2021, 07:32:03 PM

There is no connection between Gold and Bitcoin, if you see that there are similarities in the price movements of the two, it's just a coincidence.
Maybe it is influenced by the global economy that is happening, or news that does affect economic policy. Because basically Gold and Bitcoin are
different assets, even if you do your research properly it should also find significant differences between Gold and Bitcoin. But both Gold and Bitcoin
are the safest assets in the current economic crisis as a store of value.

Yeah not connection between gold and bitcoin and most worth bitcoin than gold as investment because bitcoin raise every day and gold waiting year by year increase profit just few percent, when bitcoin raise up I think not have effect with gold or anything because different type between gold investor and bitcoin investor, I think gold investor do not like with bitcoin and the same thing with bitcoin investor raise much profit wanna invest with gold.

Hey.. Please check when Major news pops up. Like the US stimulus package the demand for gold is down But BTC pumps.

raji1995naya

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Quote from: Shasha80 on January 01, 2021, 07:32:03 PM

There is no connection between Gold and Bitcoin, if you see that there are similarities in the price movements of the two, it's just a coincidence.
Maybe it is influenced by the global economy that is happening, or news that does affect economic policy. Because basically Gold and Bitcoin are
different assets, even if you do your research properly it should also find significant differences between Gold and Bitcoin. But both Gold and Bitcoin
are the safest assets in the current economic crisis as a store of value.

As we know Gold is a safe haven. Btc is not named as a safe haven yet(To my knowledge) So when some major news comes out(Like US stimulus package) You can see what happens to gold and Btc.

raji1995naya

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Quote from: Ryker1 on January 01, 2021, 06:27:48 PM

Well, based on my observation I see that they don't have a relationship between gold and bitcoin. But sometimes these two valuable assets will do the same movement due to the trend of the community but that is sometimes a coincidence. If you will analyze it well, bitcoin has a fixed amount so, it is totally different from gold because gold has an unlimited supply which miners can reproduce gold year by year. However, it is impossible to have a relationship since there are very opposite to each other.

I m talking about whales are moving towards Gold and BTC. Then sometimes we can see the opposite correlation among these two when major news come out. (Like stimulus package)

zanezane

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Quote from: Shasha80 on January 01, 2021, 07:32:03 PM

There is no connection between Gold and Bitcoin, if you see that there are similarities in the price movements of the two, it's just a coincidence.
Maybe it is influenced by the global economy that is happening, or news that does affect economic policy. Because basically Gold and Bitcoin are
different assets, even if you do your research properly it should also find significant differences between Gold and Bitcoin. But both Gold and Bitcoin
are the safest assets in the current economic crisis as a store of value.

No it is not influenced by global economy, journalist just find the comparison a bit more sensational than anything. For me the gold is what you would call a countable infinite, in relation to the size of universe which is infinite or as the theory says, gold could be counted but there are stars that are going supernova that creates a lot of elements including gold. On the other hand, bitcoin is a finite. I think the only relationship that gold and bitcoin has is the process that it is procured which is mining.

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Quote from: CryptopreneurBrainboss on January 01, 2021, 04:35:36 AM

Well although there's this common thought that gold has a finite supply spreading around but in reality that can't be proven. While with bitcoin we know on this particular day the last bitcoin will be mine which means there can't be more than 21 million bitcoin in circulation but that of Gold can't be bet on as new gold will be mined from the ground until the world comes to an end.

That been said then it won't appropriate saying both gold and bitcoin has a finite supply and that's the similarities between then. Sometimes we need to disregard the bullshit the government tell us just to have control over our financial life.

There's no relationship between gold and bitcoin. Bitcoin is miles ahead of gold. In the market there'll be scenario when it seems like some particular assets are moving in the same direction but with time you'll realize it was just a coincidence and not meaning both asset are related.

The idea that gold is "finite" can be proven, as in we can't have more gold on earth than how much earth we have Cheesy

. You can't squeeze in Jupiter size gold into earth itself can you Cheesy

. That is kinda the point of saying "finite" for gold, nobody can guarantee how much exactly gold there will ever be, hell I am not even sure if we could start with mining gold on other planets anytime soon but that could change things as well.

However for now, the idea of finite is basically saying it is not something we can produce ourselves, and we have limited around the world. Sure maybe there will be 5 more tons find out somewhere we haven't looked before, we do not know that kind of number yet, we may never know that, but we just know since it can't be infinitely big, bigger than the whole world, and we also can't make it ourselves, that means finite in terms.

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Quote from: Shasha80 on January 01, 2021, 07:32:03 PM

There is no connection between Gold and Bitcoin, if you see that there are similarities in the price movements of the two, it's just a coincidence.
Maybe it is influenced by the global economy that is happening, or news that does affect economic policy. Because basically Gold and Bitcoin are
different assets, even if you do your research properly it should also find significant differences between Gold and Bitcoin. But both Gold and Bitcoin
are the safest assets in the current economic crisis as a store of value.

Yeah not connection between gold and bitcoin and most worth bitcoin than gold as investment because bitcoin raise every day and gold waiting year by year increase profit just few percent, when bitcoin raise up I think not have effect with gold or anything because different type between gold investor and bitcoin investor, I think gold investor do not like with bitcoin and the same thing with bitcoin investor raise much profit wanna invest with gold.

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