Topic: Bitcoin moves like Gold? - page 6. (Read 1720 times)
Sometimes problems like this are very interesting for all people, so there is no common ground for issues of the price of bitcoin and the price of gold, actually the price of bitcoin and gold are equally well-priced to sell very well in all markets, each has a very large impact on the holder, then in my opinion there is no harm if we have both for long-term investment, no one knows if for the price of both in the future at least have the advantage of both it will be much better than talks that have no end ...
I do not think that Bitcoin Market moves like Gold Market, if we look at their chart history and plot it together, they don't move at the same pace, sometime they even move the opposite direction. I think it is just a coincidence that at recent movement, Bitcoin moves like Gold. Well it can happen to all stocks in the market. There is always a certain point in time that a two different stocks can move at the same pace.
For me, both bitcoin and gold will always be a different kind of investment. Maybe it is right if bitcoin sometime have price movement like gold, but maybe like people said it is only coincidence. Because bitcoin's volatile is bigger than gold that sometime tends to keep increased.
from the beginning, the concept of bitcoin was made like gold. has limited supply, mining and decentralization. so I think it's natural if bitcoin steps like gold. This condition refers to the condition of the world's gold. so the movement of gold is I think the next bitcoin movement.
But is this still enough to say that Bitcoin moves like Gold?
Their price movement will never be the same because they are on different platforms and different means of trading.
It maybe, or it's just coincidence. They are both considered assets, both holded by market players, and can be both affected of related news. Though, what happens now, cannot be guaranteed to be the indicator until the future. There are always other factors such as market sentiment and paradigm shift towards making digital technologies important, which might make the correlation between the two assets more apart from each other.
I'm very sure this is not a coincidence. Commodities have been through the big recessions, but Bitcoin is new and hasn't been through one. Although it was created exactly during the last recession, only few knew of its existence so 2008's crisis doesn't count for me.
Gold and Bitcoin will probably follow the same path only IF Bitcoin will prove to be a safe haven during the next period of hard times. Investors are undecided whether Bitcoin plays a positive or a negative role during a crisis. That's why the prices follow approximately the same course but sometimes they go separate ways.
Only time will tell. Gold has so many thousands of years of experience, we know what & when to expect about it. But about Bitcoin it's way harder to predict.
It maybe, or it's just coincidence. They are both considered assets, both holded by market players, and can be both affected of related news. Though, what happens now, cannot be guaranteed to be the indicator until the future. There are always other factors such as market sentiment and paradigm shift towards making digital technologies important, which might make the correlation between the two assets more apart from each other.
increasing the value of gold and bitcoin simultaneously does not mean that bitcoin has the same path as gold. I think this is just a coincidence. the value of gold is strongly influenced by the value of the US dollar and also gold reserves in world banks while bitcoin is not. the rise and fall of bitcoin is only influenced by requests and offers and also news about bitcoin.
sometimes political news will influence, especially if Trump criticizes investments. but what has a big impact is the stock market, while the crypto market will not always be affected when there is political news. I don't think it will be the same, between the stock market and the crypto market and maybe what happened some time ago was just panic.
Almost all patterns of any price increase are the same. But can it be said that the two are the same? Of course not, because of different markets and different targets. Commodity gold which has been around for a long time, the price of gold is also not as volatile as bitcoin. Why don't you try to equate it with silver or other commodities, the price chart is definitely the same. It's just a coincidence if both prices rise at the same time.
But is this still enough to say that Bitcoin moves like Gold?
There were attempts to match Bitcoin market movements with gold, silver, stocks, whatever.
On long term the result was always the same: the models kept proving that the analogies don't exist, the movements are decoupled and whatever rule is found, it's either incorrect, either happens for a small period/subset (which doesn't make it a rule)
Which chart? and which Trump speech ?, can you give a little link, it seems like bitcoin does not follow the price of gold or vice versa, if indeed bitcoin follows gold clearly it is wrong even though they have similarities like real gold and digital gold with different markets, the price reduction occurs at bitcoin because of the correction and stopped at $ 8600 support
In deed and I think the speech of Mr. Trump cannot affect the bitcoin's price movement and also its value. And also I dont think that the bitcoin can be compare to the gold because we all know that the value and price of a tiny gold is too huge how much more if it is a pot of gold. You can be a millionaire if you have a pot of gold but here in crypto world the value and price of bitcoin is not that high as gold. 
Which chart? and which Trump speech ?, can you give a little link, it seems like bitcoin does not follow the price of gold or vice versa, if indeed bitcoin follows gold clearly it is wrong even though they have similarities like real gold and digital gold with different markets, the price reduction occurs at bitcoin because of the correction and stopped at $ 8600 support
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Going over the data provided by Coinmetrics, there is a weak correlation between the two (blue line is BTC vs Gold; red BTC vs S&P). Of course there will be point in time events that can make the two assets dance at a similar pace, but the general pattern overtime does not correlate their price:
https://coinmetrics.io/correlations/#assets=btc-s&p,btc-gld
Charts display Spearman’s correlation for BTC/S&P (red) and BTC/Gold (blue). Historical correlation data is within the range -0.2 .. +0.25, which points to a weak correlation.
Quote
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Correlation is an effect size and so we can verbally describe the strength of the correlation using the following guide for the absolute value of:
•.00-.19 “very weak”
•.20-.39 “weak”
•.40-.59 “moderate”
•.60-.79 “strong”
•.80-1.0 “very strong”
<…>
https://coinmetrics.io/correlations/#assets=btc-s&pCorrelation is an effect size and so we can verbally describe the strength of the correlation using the following guide for the absolute value of:
•.00-.19 “very weak”
•.20-.39 “weak”
•.40-.59 “moderate”
•.60-.79 “strong”
•.80-1.0 “very strong”
<…>
http://www.statstutor.ac.uk/resources/uploaded/spearmans.pdf
I do believe these are two different things. We shouldn't compare these two things with each other. A tangible asset can't be comparable with an intangible asset. Bitcoin is the just innovative and secured finance system ever for everyone!
But according to this article: New data suggests Bitcoin and Gold Aren't Correlated As You Think.
So which one is which?
There are a lot of parameters that we need to look at, and I don't think we can a single factors that we can link both of them, in terms of price movement.
So which one is which?
There are a lot of parameters that we need to look at, and I don't think we can a single factors that we can link both of them, in terms of price movement.
The value of bitcoin moves depends on the markets supply and demand. Like gold, its price also moves that way that is why they are more likely have the same movement. But for me, gold is much more stable than bitcoin plus the fact that it is physically present, unlike bitcoin which is digital. Also, we should not forget the factor that gold has a tax while btc doesn't have any.
I do not agree that bitcoin movements follow the movements of gold, because bitcoin will never follow market movements
anywhere. Because Bitcoin moves based on supply and demand, if the bitcoin price chart looks the same as gold it's likely only
coincidence. Not we associate the movement of the bitcoin market with gold, because the two markets are different linkages.
anywhere. Because Bitcoin moves based on supply and demand, if the bitcoin price chart looks the same as gold it's likely only
coincidence. Not we associate the movement of the bitcoin market with gold, because the two markets are different linkages.
According to the recent price chart, Bitcoin's move has been very similar to Gold's move.
Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down.
And there were other cases that Bitcoin's move follows after Gold's move.
But is this still enough to say that Bitcoin moves like Gold?
I'm sure about that and that's why bitcoin place is same like commodity ( gold, silver, index's, etc ) not with currency. All economy activity should ended with currency so let's avoid bitcoin will replace real money, that's wrong. Even we see bitcoin is more popular than forex ( currency ) but bitcoin is similar with commodity, need to mining and can sell in market the different is only about equipment. Similar movement yes, so why not use gold indicator to predict bitcoin direction?.
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