Post
Topic
Board Bitcoin Discussion
Re: Is there a relation between Bitcoinprice and Gold price?
by
cafucafucafu
on 17/07/2017, 03:26:54 UTC
Hi folks,

I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and  www.bitcoin.com  and Gold price  www.goldprice.com .
If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation?
Thanks in advance

Hmm, the graphs definitely look pretty similar but I can't think of any reasons why they might be related. They are 2 different types of investments with probably different markets as well. Maybe think of this in a practical sense and it will be easier to explain. Bitcoin is a fairly new cryptocurrency that has a new market, is decentralized and also can be used to make purchases online. While gold is a rare metal, that is used for fashion and also one of the oldest investment options out there, it is super stable and is on a steady climb up, while bitcoin just feel around 1000 USD in the span of one week. Both investment options, but they are still totally different things, and probably have no relation to each other.