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
I dont think that there is as such any specific relation between the valuation flactuation of gold and bitcoin because these two are two entirely different investment but in directly these two are related as bitcoin is now considered as more profitable investment because the profit ratio of bitcoin is very much high because its valuation hikes in a very short span of time so more and more people are now attracted towards investing into bitcoin and thus less people are investing into gold and thus valuation of bitcoin decreases.