Topic: Bitcoin moves like Gold? - page 7. (Read 1720 times)
not only gold, every trade is interrelated because of the USD, when the value of the USD weakens, then bitcoin, gold, and others tend to go up, so actually there is no relation between bitcoin and gold, it is only the influence of the USD.
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?
You should understand that people in the crypto space doesn't really endorse speculations. It will be better if you add the source of this info to help others understand why you think Bitcoin is moving like Gold. But personally, I don't really agree with you on this. Bitcoin is in its own class considering the nature of the bitcoin market .
I think it's just a coincidence. if the price of bitcoin is in harmony with the price of gold, there is a possibility that the price of gold is already very high, but it is not, because even though bitcoin and gold are investment tools, they really have different principles. so the level of fluctuation is very different.
Yeah I agree, this is just a coincidence, in past, I also think that the price of Bitcoin is in line with the price of gold, Because at that time the price movement of Bitcoin was the same as the price of gold, and it turned out it was just a coincidence. Bitcoin price fluctuations are higher than gold price fluctuations. 
Maybe you're talking about in the time when US government or the Trump administration decided to kill the Iran's Top General Qassem Soleimani. The stock market went into a panic and made Gold and BTC pump concurrently, but the war didn't continue so investors are back in the stocks causing for the both asset to go down at the same time.
Those simultaneous movements can only happen if there is a global crisis happening in my opinion.
Those simultaneous movements can only happen if there is a global crisis happening in my opinion.
There are a lot of similarities between Gold and Bitcoin, like it being a Store of Value and it is this feature that gives it a price behavior, similar to Gold, because investors are using it for the same reasons. (to hedge against possible instability in the economic and political environment)
The thing that is very different between the two is the volatility of the price, because the Bitcoin price is a lot more volatile than Gold. You will rarely find a price spike of say $300 to $600 in a day with the Gold price.
Satoshi also developed Bitcoin on the same concept as Gold, based on it's rarity and diminishing supply, so a lot of Goldbugs also like to invest in Bitcoin for the same reasons.
The thing that is very different between the two is the volatility of the price, because the Bitcoin price is a lot more volatile than Gold. You will rarely find a price spike of say $300 to $600 in a day with the Gold price.
Satoshi also developed Bitcoin on the same concept as Gold, based on it's rarity and diminishing supply, so a lot of Goldbugs also like to invest in Bitcoin for the same reasons.
I think it's just a coincidence. if the price of bitcoin is in harmony with the price of gold, there is a possibility that the price of gold is already very high, but it is not, because even though bitcoin and gold are investment tools, they really have different principles. so the level of fluctuation is very different.
According to the recent price chart, Bitcoin's move has been very similar to Gold's move.
Why not Silver? It also moves like any other commodity. Why not Copper for that instance?Quote
Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down.
Which speech? Again a movement in same direction does not mean that the correlation exists unless it is explicitly proven. Which is again a rare thing to prove and so it is better to assume that these are coincidences and not related.Quote
And there were other cases that Bitcoin's move follows after Gold's move.
Possible that people moved from gold to bitcoin, question is does it really matter? People change sectors all the time to keep up with trends or manage risks.Quote
But is this still enough to say that Bitcoin moves like Gold?
No. They are two different assets. And you did not provide any proof to substantiate your claim. 
According to the recent price chart, Bitcoin's move has been very similar to Gold's move.
even if you draw random lines on a piece of paper there are bound to be some lines that end up being parallel. of course in markets sometimes there are things that can affect all of them the same way but it doesn't mean the markets are similar specially when one of them is bitcoin market which has never had any similarity to any of the markets ever.
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Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down.
bitcoin price has been rising ever since we entered 2020!it started from $7000 then went up to $8400 then had a correction then went up to $9100 then had another correction and currently is at $8700. if you ignore everything else in the media, this is a natural thing to happen after an accumulation phase!
going down would have been if it started at $7000, went up to whatever and fell back to $6500 which is not the case, obviously.
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And there were other cases that Bitcoin's move follows after Gold's move.
no bitcoin has never followed any market ever and it is not going to start now. 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?
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