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
Don't think there is much of a relationship with gold and bitcoin, they are both investments but that is all their similarities and of course not any bunch of investments are related. Gold is super stable and barely rises or falls, while on the other hand, Bitcoin is a decentralized currency which makes it fall and rise in price a lot. Gold has been around for centuries as a precious metal and something that held value, but Bitcoin has only been around for 10 years or so. I don't think that when gold falls or when Bitcoin falls, the other investment will fall as well.