Using daily price data from September 2014 to May 2024, the correlation coefficient between Gold and Bitcoin is approximately 0.82.
A 0.82 correlation indicates a strong positive relationship: when Gold's price rises, Bitcoin's price tends to rise too, and vice versa.
Let me know if you want the raw data.
Originally published by me at:
https://cryptoprofits.substack.com/p/gold-and-bitcoin-prices-the-surprisingBitcoin and Gold are both considered as future assets that are good enough to be owned and invested in by anyone who likes them even though they still have several differences in certain aspects at this time. However, in general, there are still many people who consider Gold to be the best asset and this also applies to Bitcoin because the current Bitcoin investment volume is enough to prove that Bitcoin is also a very good asset. So sometimes some people don't really care about such a big correlation because when both assets experience an increase, of course those who hold both will feel happy.