Post
Topic
Board Bitcoin Discussion
Re: Bitcoin moves like Gold?
by
bearexin
on 03/02/2020, 16:43:55 UTC
According to the recent price chart, Bitcoin's move has been very similar to Gold's move.

Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down.

And there were other cases that Bitcoin's move follows after Gold's move.


But is this still enough to say that Bitcoin moves like Gold?
Bitcoin and Gold both are two different commodities which do not posses any single similarity. Both the markets have been giving profits to the investors but bitcoin markets being most volatile might always give investors higher gains than investing into gold markets.

Gold is a actual commodity which is been utilized in creating ornaments which controls the demand for gold and rises the price for the same. Which in case of bitcoins, they only have demand because more and more people keep on joining bitcoins and start having benefits from them. Bitcoins are not backed by any physical commodity which makes it completely opposite from gold. Prices for both might run in a similar way because of the market news but they have least connection.