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Bitcoin and Gold are Trading Inversely With One Another

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It may be worth keeping an eye on how the price of Bitcoin and Gold are behaving at the same time. It seems that at this moment in time when Bitcoin is going upwards, Gold is going downwards. Especially over the last month. 

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Have any other data on the supposed correlation between such assets? Feel this is more confirmation bias. 

Whats the logic inthis? 

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15 minutes ago, PandaFace said:

 

Whats the logic inthis? 

Gold = safe haven

bitcoin = store of value which a lot of people are now saying seeing as it’s failed as a currency (so far)

Therefore if both safe haven when one rallies people shift allocation over? 

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@PandaFace,

It is suggested that capital from Gold may be shifting into Bitcoin. I accept this will be very small at the moment so it will not have a massive impact on Gold prices but those small amounts will have larger price implications for Bitcoin.

Since Bitcoin’s inception based on hard data which has been the better store of value, Bitcoin or Gold? My answer is Bitcoin. Have a look at the returns of Bitcoin compared to Gold in this same time period. Even with several 80% drops for Bitcoin it still has been a better store of value than Gold since 2009!

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