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RE: Bitcoin is officially correlated with Gold, at least over the past 90 days

in #bitcoin6 years ago (edited)

I think this reflects the importance that Bitcoin is gaining, we are closer to be considered a viable asset and this negative correlation with gold translate that.

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Why do you think that?

Financial assets always move on the opposite direction of gold. For example, if the markets are going on a bull run, the gold market is going down (and vice-versa), that's why gold is called an asset of refuge.

And the correlation you showed, might mean that Bitcoin is starting to be seen as a viable asset to be invested in.

Yes, it is being seen more as a "risky asset" right now, similar to that of stocks, compared to that of a store of value in times of uncertainty.

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