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
Nope I don't think so. The reason why is people don't buy and sell bitcoin to buy /sell gold. Since it doesn't have a direct or indirect link to both bitcoin and gold the price cannot be influenced by the other. But there is a common thing that influences the price is the US dollar, the price of gold and bitcoin may increase/decrease in a smaller ratio because of the US dollar. The main thing that influences most of the price is the common people.