I picked up an interesting article from Bloomberg. It's saying that there is a really close correlation between BTC and the price of Copper. It's in complete lock-step moving. I have looked and it has continued to trade like this since their chart, end of September. They think it is because of the amount of money that Chinese people speculate with. When they speculate they buy BTC AND Copper. Maybe it's true and maybe Copper could be a good indicator of BTC moves at the moment.
https://www.bloomberg.com/news/articles/2017-09-26/bitcoin-and-copper-in-lockstep-show-chinese-speculators-power
Any thoughts?
https://www.bloomberg.com/news/articles/2017-09-26/bitcoin-and-copper-in-lockstep-show-chinese-speculators-power
Any thoughts?
I am not even going to read such an article that contains such a retarded premise for a title.
Bitcoin has been around for 9 years and copper has been around for thousands of years.
Even if there might be some short term correlation between the two assests, that is most likely a distracting coincidence rather than really understanding the fundamental differences between the two markets.
In other words, get a fucking grip, if you think that bitcoin is fundamentally the same as copper in any kind of way, except perhaps that they may have some similar price movements, recently, then you are a fucking nut job.
