Are there any relationship between Gold and Bitcoin ? - page 6.

cryptoaddictchie

legendary

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

When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?

Thats totally irrelevant I think. They don't have direct relationship, cause stocks and crypto have different approach when it comes to market. Especially on crypto related since it is much volatile compared to stocks.

For me its just merely coincidence or market instinct its not everyday that if bitcoin is high gold is dumping and vice versa. Details and record can prove you that.

ife2020

member

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Are you kind to your neighbor? Think it through

I do not really think there are any relationship between bitcoin and gold, it is us investors, traders, newbies that try to relate them to one another in terms of the value they bring to the table. Bitcoin is bullish long term, gold has been dominant and consistent since the beginning of the world. Would i invest in bitcoin and gold ? Yes but bitcoin first always.

jossiel

hero member

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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.

Yaunfitda

hero member

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Merit: 574

I believed that every market globally is connected to each other including Gold. We have seen the negative effect of Covid-19 in March, all of them went nose diving. But there are also proponents that there are no correlation specially in the last couple of months wherein bitcoin was really on a super fast rally. I will advise you to read threads for reference:

[1] [UPDATED] Bitcoin vs Gold vs The US Stock Market(US500)
[2] what would be relationship between bitcoin and stockmarket?

raji1995naya

member

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Merit: 10

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?

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