Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Bitcoin moves like Gold?
by
pooya87
on 21/01/2020, 04:57:50 UTC
⭐ Merited by The Pharmacist (2)
According to the recent price chart, Bitcoin's move has been very similar to Gold's move.
even if you draw random lines on a piece of paper there are bound to be some lines that end up being parallel.
of course in markets sometimes there are things that can affect all of them the same way but it doesn't mean the markets are similar specially when one of them is bitcoin market which has never had any similarity to any of the markets ever.

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Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down.
bitcoin price has been rising ever since we entered 2020!
it started from $7000 then went up to $8400 then had a correction then went up to $9100 then had another correction and currently is at $8700. if you ignore everything else in the media, this is a natural thing to happen after an accumulation phase!

going down would have been if it started at $7000, went up to whatever and fell back to $6500 which is not the case, obviously.

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And there were other cases that Bitcoin's move follows after Gold's move.
no bitcoin has never followed any market ever and it is not going to start now.