Title: Bitcoin moves like Gold? Post by: psjin128 on January 21, 2020, 03:23:29 AM 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? Title: Re: Bitcoin moves like Gold? Post by: pooya87 on January 21, 2020, 04:57:50 AM 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. Quote 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. Quote 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.Title: Re: Bitcoin moves like Gold? Post by: TheUltraElite on January 21, 2020, 05:28:58 AM According to the recent price chart, Bitcoin's move has been very similar to Gold's move. Why not Silver? It also moves like any other commodity. Why not Copper for that instance?Quote Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down. Which speech? Again a movement in same direction does not mean that the correlation exists unless it is explicitly proven. Which is again a rare thing to prove and so it is better to assume that these are coincidences and not related.Quote And there were other cases that Bitcoin's move follows after Gold's move. Possible that people moved from gold to bitcoin, question is does it really matter? People change sectors all the time to keep up with trends or manage risks.Quote But is this still enough to say that Bitcoin moves like Gold? No. They are two different assets. And you did not provide any proof to substantiate your claim.Title: Re: Bitcoin moves like Gold? Post by: Free1bitco.in on January 21, 2020, 05:30:23 AM I think it's just a coincidence. if the price of bitcoin is in harmony with the price of gold, there is a possibility that the price of gold is already very high, but it is not, because even though bitcoin and gold are investment tools, they really have different principles. so the level of fluctuation is very different.
Title: Re: Bitcoin moves like Gold? Post by: Kakmakr on January 21, 2020, 05:36:45 AM There are a lot of similarities between Gold and Bitcoin, like it being a Store of Value and it is this feature that gives it a price behavior, similar to Gold, because investors are using it for the same reasons. (to hedge against possible instability in the economic and political environment)
The thing that is very different between the two is the volatility of the price, because the Bitcoin price is a lot more volatile than Gold. You will rarely find a price spike of say $300 to $600 in a day with the Gold price. ;) Satoshi also developed Bitcoin on the same concept as Gold, based on it's rarity and diminishing supply, so a lot of Goldbugs also like to invest in Bitcoin for the same reasons. Title: Re: Bitcoin moves like Gold? Post by: Sadlife on January 21, 2020, 05:37:42 AM Maybe you're talking about in the time when US government or the Trump administration decided to kill the Iran's Top General Qassem Soleimani. The stock market went into a panic and made Gold and BTC pump concurrently, but the war didn't continue so investors are back in the stocks causing for the both asset to go down at the same time.
Those simultaneous movements can only happen if there is a global crisis happening in my opinion. Title: Re: Bitcoin moves like Gold? Post by: Dhoe on January 21, 2020, 05:50:33 AM I think it's just a coincidence. if the price of bitcoin is in harmony with the price of gold, there is a possibility that the price of gold is already very high, but it is not, because even though bitcoin and gold are investment tools, they really have different principles. so the level of fluctuation is very different. Yeah I agree, this is just a coincidence, in past, I also think that the price of Bitcoin is in line with the price of gold, Because at that time the price movement of Bitcoin was the same as the price of gold, and it turned out it was just a coincidence. Bitcoin price fluctuations are higher than gold price fluctuations.Title: Re: Bitcoin moves like Gold? Post by: Youghoor on January 21, 2020, 05:58:03 AM 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? You should understand that people in the crypto space doesn't really endorse speculations. It will be better if you add the source of this info to help others understand why you think Bitcoin is moving like Gold. But personally, I don't really agree with you on this. Bitcoin is in its own class considering the nature of the bitcoin market . Title: Re: Bitcoin moves like Gold? Post by: MURONDI on January 21, 2020, 06:09:47 AM not only gold, every trade is interrelated because of the USD, when the value of the USD weakens, then bitcoin, gold, and others tend to go up, so actually there is no relation between bitcoin and gold, it is only the influence of the USD.
Title: Re: Bitcoin moves like Gold? Post by: nicolas1979 on January 21, 2020, 06:19:39 AM I'm sure about that and that's why bitcoin place is same like commodity ( gold, silver, index's, etc ) not with currency. All economy activity should ended with currency so let's avoid bitcoin will replace real money, that's wrong. Even we see bitcoin is more popular than forex ( currency ) but bitcoin is similar with commodity, need to mining and can sell in market the different is only about equipment. Similar movement yes, so why not use gold indicator to predict bitcoin direction?.
Title: Re: Bitcoin moves like Gold? Post by: garyrowe on January 21, 2020, 06:30:53 AM 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? Title: Re: Bitcoin moves like Gold? Post by: Shasha80 on January 21, 2020, 06:42:58 AM I do not agree that bitcoin movements follow the movements of gold, because bitcoin will never follow market movements
anywhere. Because Bitcoin moves based on supply and demand, if the bitcoin price chart looks the same as gold it's likely only coincidence. Not we associate the movement of the bitcoin market with gold, because the two markets are different linkages. Title: Re: Bitcoin moves like Gold? Post by: julius caesar on January 21, 2020, 07:06:44 AM The value of bitcoin moves depends on the markets supply and demand. Like gold, its price also moves that way that is why they are more likely have the same movement. But for me, gold is much more stable than bitcoin plus the fact that it is physically present, unlike bitcoin which is digital. Also, we should not forget the factor that gold has a tax while btc doesn't have any.
Title: Re: Bitcoin moves like Gold? Post by: Jating on January 21, 2020, 07:10:01 AM But according to this article: New data suggests Bitcoin and Gold Aren't Correlated As You Think. (https://cointelegraph.com/news/new-data-suggests-bitcoin-and-gold-arent-as-correlated-as-you-think)
So which one is which? :) There are a lot of parameters that we need to look at, and I don't think we can a single factors that we can link both of them, in terms of price movement. Title: Re: Bitcoin moves like Gold? Post by: mirrasel on January 21, 2020, 07:12:26 AM I do believe these are two different things. We shouldn't compare these two things with each other. A tangible asset can't be comparable with an intangible asset. Bitcoin is the just innovative and secured finance system ever for everyone!
Title: Re: Bitcoin moves like Gold? Post by: DdmrDdmr on January 21, 2020, 07:44:15 AM <...> Going over the data provided by Coinmetrics, there is a weak correlation between the two (blue line is BTC vs Gold; red BTC vs S&P). Of course there will be point in time events that can make the two assets dance at a similar pace, but the general pattern overtime does not correlate their price:https://i.imgur.com/Sq5u5Ei.png https://coinmetrics.io/correlations/#assets=btc-s&p,btc-gld Charts display Spearman’s correlation for BTC/S&P (red) and BTC/Gold (blue). Historical correlation data is within the range -0.2 .. +0.25, which points to a weak correlation. Quote <…> https://coinmetrics.io/correlations/#assets=btc-s&pCorrelation is an effect size and so we can verbally describe the strength of the correlation using the following guide for the absolute value of: •.00-.19 “very weak” •.20-.39 “weak” •.40-.59 “moderate” •.60-.79 “strong” •.80-1.0 “very strong” <…> http://www.statstutor.ac.uk/resources/uploaded/spearmans.pdf Title: Re: Bitcoin moves like Gold? Post by: bitcampaign on January 21, 2020, 07:45:09 AM Which chart? and which Trump speech ?, can you give a little link, it seems like bitcoin does not follow the price of gold or vice versa, if indeed bitcoin follows gold clearly it is wrong even though they have similarities like real gold and digital gold with different markets, the price reduction occurs at bitcoin because of the correction and stopped at $ 8600 support
Title: Re: Bitcoin moves like Gold? Post by: k@suy on January 21, 2020, 07:55:19 AM Which chart? and which Trump speech ?, can you give a little link, it seems like bitcoin does not follow the price of gold or vice versa, if indeed bitcoin follows gold clearly it is wrong even though they have similarities like real gold and digital gold with different markets, the price reduction occurs at bitcoin because of the correction and stopped at $ 8600 support In deed and I think the speech of Mr. Trump cannot affect the bitcoin's price movement and also its value. And also I dont think that the bitcoin can be compare to the gold because we all know that the value and price of a tiny gold is too huge how much more if it is a pot of gold. You can be a millionaire if you have a pot of gold but here in crypto world the value and price of bitcoin is not that high as gold.Title: Re: Bitcoin moves like Gold? Post by: NeuroticFish on January 21, 2020, 08:05:14 AM But is this still enough to say that Bitcoin moves like Gold? There were attempts to match Bitcoin market movements with gold, silver, stocks, whatever. On long term the result was always the same: the models kept proving that the analogies don't exist, the movements are decoupled and whatever rule is found, it's either incorrect, either happens for a small period/subset (which doesn't make it a rule) Title: Re: Bitcoin moves like Gold? Post by: bitvalak on January 21, 2020, 08:07:15 AM Almost all patterns of any price increase are the same. But can it be said that the two are the same? Of course not, because of different markets and different targets. Commodity gold which has been around for a long time, the price of gold is also not as volatile as bitcoin. Why don't you try to equate it with silver or other commodities, the price chart is definitely the same. It's just a coincidence if both prices rise at the same time.
Title: Re: Bitcoin moves like Gold? Post by: red4slash on January 21, 2020, 08:18:37 AM sometimes political news will influence, especially if Trump criticizes investments. but what has a big impact is the stock market, while the crypto market will not always be affected when there is political news. I don't think it will be the same, between the stock market and the crypto market and maybe what happened some time ago was just panic.
Title: Re: Bitcoin moves like Gold? Post by: yulionoo on January 21, 2020, 11:34:52 AM increasing the value of gold and bitcoin simultaneously does not mean that bitcoin has the same path as gold. I think this is just a coincidence. the value of gold is strongly influenced by the value of the US dollar and also gold reserves in world banks while bitcoin is not. the rise and fall of bitcoin is only influenced by requests and offers and also news about bitcoin.
Title: Re: Bitcoin moves like Gold? Post by: blckhawk on January 21, 2020, 11:57:12 AM It maybe, or it's just coincidence. They are both considered assets, both holded by market players, and can be both affected of related news. Though, what happens now, cannot be guaranteed to be the indicator until the future. There are always other factors such as market sentiment and paradigm shift towards making digital technologies important, which might make the correlation between the two assets more apart from each other.
Title: Re: Bitcoin moves like Gold? Post by: d.kevin29 on January 21, 2020, 12:05:04 PM It maybe, or it's just coincidence. They are both considered assets, both holded by market players, and can be both affected of related news. Though, what happens now, cannot be guaranteed to be the indicator until the future. There are always other factors such as market sentiment and paradigm shift towards making digital technologies important, which might make the correlation between the two assets more apart from each other. I'm very sure this is not a coincidence. Commodities have been through the big recessions, but Bitcoin is new and hasn't been through one. Although it was created exactly during the last recession, only few knew of its existence so 2008's crisis doesn't count for me. Gold and Bitcoin will probably follow the same path only IF Bitcoin will prove to be a safe haven during the next period of hard times. Investors are undecided whether Bitcoin plays a positive or a negative role during a crisis. That's why the prices follow approximately the same course but sometimes they go separate ways. Only time will tell. Gold has so many thousands of years of experience, we know what & when to expect about it. But about Bitcoin it's way harder to predict. Title: Re: Bitcoin moves like Gold? Post by: Astvile on January 21, 2020, 01:07:51 PM But is this still enough to say that Bitcoin moves like Gold? Their price movement will never be the same because they are on different platforms and different means of trading. Title: Re: Bitcoin moves like Gold? Post by: hendra147 on January 21, 2020, 01:11:09 PM from the beginning, the concept of bitcoin was made like gold. has limited supply, mining and decentralization. so I think it's natural if bitcoin steps like gold. This condition refers to the condition of the world's gold. so the movement of gold is I think the next bitcoin movement.
Title: Re: Bitcoin moves like Gold? Post by: BitcoinHunt3r on January 21, 2020, 01:37:29 PM For me, both bitcoin and gold will always be a different kind of investment. Maybe it is right if bitcoin sometime have price movement like gold, but maybe like people said it is only coincidence. Because bitcoin's volatile is bigger than gold that sometime tends to keep increased.
Title: Re: Bitcoin moves like Gold? Post by: bitcoindusts on January 21, 2020, 02:34:55 PM I do not think that Bitcoin Market moves like Gold Market, if we look at their chart history and plot it together, they don't move at the same pace, sometime they even move the opposite direction. I think it is just a coincidence that at recent movement, Bitcoin moves like Gold. Well it can happen to all stocks in the market. There is always a certain point in time that a two different stocks can move at the same pace.
Title: Re: Bitcoin moves like Gold? Post by: Warkop on January 21, 2020, 02:56:46 PM Sometimes problems like this are very interesting for all people, so there is no common ground for issues of the price of bitcoin and the price of gold, actually the price of bitcoin and gold are equally well-priced to sell very well in all markets, each has a very large impact on the holder, then in my opinion there is no harm if we have both for long-term investment, no one knows if for the price of both in the future at least have the advantage of both it will be much better than talks that have no end ...
Title: Re: Bitcoin moves like Gold? Post by: Rafiqul on January 21, 2020, 03:30:43 PM I do not agree that bitcoin movements follow the movements of gold, because bitcoin will never follow market movements You are right, I think same. Bitcoin price is not similar to Gold price. Gold price dependson many bodies activities. Others side no body can control bitcoin price. So we can not compare it.anywhere. Because Bitcoin moves based on supply and demand, if the bitcoin price chart looks the same as gold it's likely only coincidence. Not we associate the movement of the bitcoin market with gold, because the two markets are different linkages. Title: Re: Bitcoin moves like Gold? Post by: Hypnosis00 on January 21, 2020, 03:44:18 PM Are we going to compare bitcoin to gold again?
There is only one thing in common with them and that is both of them have a high market value. If we could think about how the two differ from each other, we can simply think that there is no such thing that bitcoin will closely be the same as how gold build its reputation. Title: Re: Bitcoin moves like Gold? Post by: FairUser on January 21, 2020, 03:50:08 PM Of course, for the big events and news affecting the economy, every market will move the same way. When the United States and Iran collided, the prices of gold and oil surged, and then the cryptocurrency market went up in the same way. But sometimes the cryptocurrency market has different news and FUD, it makes it possible for the whole market to go against the global situation. That's because news drives the entire market.
Title: Re: Bitcoin moves like Gold? Post by: suvo05 on January 21, 2020, 03:50:59 PM In some few cases, the movement may be the same because all are part of the world economy and treated as good investment policies. But you can not judge by comparing few days. The bitcoin price movement is so dynamic but in the case of gold the inclination is very much steady.
Title: Re: Bitcoin moves like Gold? Post by: CarnagexD on January 21, 2020, 03:53:08 PM increasing the value of gold and bitcoin simultaneously does not mean that bitcoin has the same path as gold. I think this is just a coincidence. the value of gold is strongly influenced by the value of the US dollar and also gold reserves in world banks while bitcoin is not. the rise and fall of bitcoin is only influenced by requests and offers and also news about bitcoin. Bitcoin's investment environment is very different compared to where gold is situated now. We can't just assume that bitcoin behaves like gold because of statistical data shown as of late. We better observe the market to see what we can do at the very least to gain the maximum profits we can gain or instead support bitcoin's path to becoming a bonafide coin capable of surpassing fiat.Title: Re: Bitcoin moves like Gold? Post by: msarro on January 21, 2020, 03:57:14 PM Maybe you're talking about in the time when US government or the Trump administration decided to kill the Iran's Top General Qassem Soleimani. The stock market went into a panic and made Gold and BTC pump concurrently, but the war didn't continue so investors are back in the stocks causing for the both asset to go down at the same time. Those simultaneous movements can only happen if there is a global crisis happening in my opinion. That’s correct whenever we have some global event there is panic selling in stock and investors move their capital from stock to gold and other commodities. That’s one reason why whenever stock goes down gold goes up. I don’t think we can correlate that with bitcoin and crypto. Title: Re: Bitcoin moves like Gold? Post by: Artemis3 on January 21, 2020, 04:06:54 PM 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? Close but not the same. Some investors flee into metals and more recently bitcoin when the economy is not doing good, but gold price is mature, its production and holding stabilized over a much longer time than bitcoin. Basically gold fluctuates much less than bitcoin, while bitcoin is also maturing and tends to fluctuate less over time and maybe follow a pattern that gold followed over a much longer timespan. Bitcoin was also designed in part to mimic gold: plenty and cheap first, then scarce and therefore expensive later. Its still to early for Bitcoin to behave identically to gold, and it might never do it. Closer to gold that fiat, sure. Oh yes, if you want correlations silver does behave a lot like gold in the market. But at the same time they are separate, price can suddenly change when a new source is found, etc. If people think the economy is going to be good, they sell their metal/bitcoin assets to get into cheap stock they plan to sell later again when economy faces peril. Its just trading as usual, wedging against precious metals is tradition, bitcoin is more a newcomer alternative. Title: Re: Bitcoin moves like Gold? Post by: bitcampaign on January 22, 2020, 07:46:53 AM Which chart? and which Trump speech ?, can you give a little link, it seems like bitcoin does not follow the price of gold or vice versa, if indeed bitcoin follows gold clearly it is wrong even though they have similarities like real gold and digital gold with different markets, the price reduction occurs at bitcoin because of the correction and stopped at $ 8600 support In deed and I think the speech of Mr. Trump cannot affect the bitcoin's price movement and also its value. And also I dont think that the bitcoin can be compare to the gold because we all know that the value and price of a tiny gold is too huge how much more if it is a pot of gold. You can be a millionaire if you have a pot of gold but here in crypto world the value and price of bitcoin is not that high as gold.Title: Re: Bitcoin moves like Gold? Post by: bounceback on January 22, 2020, 09:19:46 AM But is this still enough to say that Bitcoin moves like Gold? bitcoin is very different from gold and cannot be compared to precious metals, the price of gold is certainly very different from the price of bitcoin, the average gold price is valued at 10% per year, whereas on the other hand the price of bitcoin fluctuates 10 times that of the dollar compared to the price of gold, and besides that bitcoin trading volume is still very low when compared to the price of gold.Title: Re: Bitcoin moves like Gold? Post by: iotarocket on January 22, 2020, 09:32:28 AM 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? No! Bitcoin has similarities to gold, since they are both alternative investments as hedges to the mainstream financial system. Another property they both share is scarcity. But as a fairly new technology, bitcoin still lacks the universal adoption that gold has, hence why its market capitalization is much smaller. Over time, we may see both of these assets correlate in movement more tightly, but bitcoin will remain more volatile given that it is within a much newer asset class. Title: Re: Bitcoin moves like Gold? Post by: Murat on January 22, 2020, 03:28:00 PM I think it's just a coincident, but it's true that Gold and Bitcoin both have some similar things, regarding the price aspect Bitcoin and gold are running in a similar way, though Gold and Bitcoin are a totally different thing when you compare price in recent time you may find some similarities. but I don't think Trump's speech has not brought to any impact on the price of Bitcoin, in recent time, Bitcoin price is increasing at a good pace so hope to see a price boom in the coming days, the opposite thing also could be happen, we have been experienced a lot of thing about Bitcoin price so everything is possible.
Title: Re: Bitcoin moves like Gold? Post by: keeee on January 22, 2020, 03:47:09 PM increasing the value of gold and bitcoin simultaneously does not mean that bitcoin has the same path as gold. I think this is just a coincidence. the value of gold is strongly influenced by the value of the US dollar and also gold reserves in world banks while bitcoin is not. the rise and fall of bitcoin is only influenced by requests and offers and also news about bitcoin. I agree it just a coincedence. Bitcoin is very different compare ro gold especially when it comes on its value. We can see how volatile it is where no one predicts when it will increase and decrease. Gold is a centralized currency always remembee that. Title: Re: Bitcoin moves like Gold? Post by: SaShiRaJaVu on January 22, 2020, 05:00:18 PM I agree it just a coincedence. Bitcoin is very different compare ro gold especially when it comes on its value. We can see how volatile it is where no one predicts when it will increase and decrease. Gold is a centralized currency always remembee that. Every market has its volatility but that does not mean you cannot trust those, coincidentally bitcoin is the most volatile market in the entire financial sector and so is the reason some in the economic background has no idea how to figure out the market movement, gold is not a currency if you are not aware of it :P , it is an asset class commodity traded globally. Title: Re: Bitcoin moves like Gold? Post by: kro55 on January 22, 2020, 05:29:35 PM I would say what most of the people here are saying its just a coincidence. Gold is old and different market then new bitcoin. Gold price is not that volatile as bitcoin is. AFAIK, gold price is on the rise for long time while bitcoin join the party just few days ago.
Title: Re: Bitcoin moves like Gold? Post by: cutesgirl on January 22, 2020, 05:40:50 PM Bitcoin moving not like the gold because only raising up with slowly and each year about 5% but with bitcoin and altcoin we can see just few our bitcoin touch higher price more than 5% but you can lost much money when bitcoin down suddenly more than 10%, but I am the only one unique way for investing where interested with investing big risk and big result.
Title: Re: Bitcoin moves like Gold? Post by: bangjoe on January 22, 2020, 07:34:34 PM Bitcoin moving not like the gold because only raising up with slowly and each year about 5% but with bitcoin and altcoin we can see just few our bitcoin touch higher price more than 5% but you can lost much money when bitcoin down suddenly more than 10%, but I am the only one unique way for investing where interested with investing big risk and big result. Gold capitalization every year does look low, but correlation as an asset seems to be more fundamental by speculators and is always associated with bitcoin, especially when there is news that can suddenly develop sentiment. Prices do not run with the exact same increase, only trends that move together for some time.Title: Re: Bitcoin moves like Gold? Post by: Yamifoud on January 22, 2020, 10:26:51 PM Bitcoin is like digital gold. Now we in 19th century of gold fever. next century BTC price will continue to surge and it will be more and more difficult to obtain one. Expect the unexpected anyway. Sorry but Bitcoin can't be similar to gold in all different aspects. Gold doesn't have volatility which is a big factor that Bitcoin will seem to be more profitable than of gold. Gold is known to be a good asset for a long-term investment, though Bitcoin will be considered as well and because of its volatility feature, some people won't hold that long.I know many of us here are buying gold also, that is a good idea for me. But we are more on practicality which brings Bitcoins more attractive than of gold. Title: Re: Bitcoin moves like Gold? Post by: 3la9l_kolbaCa on January 22, 2020, 10:28:03 PM increasing the value of gold and bitcoin simultaneously does not mean that bitcoin has the same path as gold. I think this is just a coincidence. the value of gold is strongly influenced by the value of the US dollar and also gold reserves in world banks while bitcoin is not. the rise and fall of bitcoin is only influenced by requests and offers and also news about bitcoin. I agree it just a coincedence. Bitcoin is very different compare ro gold especially when it comes on its value. We can see how volatile it is where no one predicts when it will increase and decrease. Gold is a centralized currency always remembee that. I don't see any similarities here, because bitcoin has been very volatile compared to gold due to higher potentials to move upward. Right now as far as I observed with the trend of gold, it still has slow growth of price. Unlike with cryptocurrency, there's random situations that it has a stabilized price in accordance to the behavior of gold but doesn't mean that would stay in that level. The price would abruptly show it's huge spikes once the relative strength index shows it full resistance. Title: Re: Bitcoin moves like Gold? Post by: Maslate on January 22, 2020, 11:32:28 PM I would say what most of the people here are saying its just a coincidence. Gold is old and different market then new bitcoin. Gold price is not that volatile as bitcoin is. AFAIK, gold price is on the rise for long time while bitcoin join the party just few days ago. Bitcoin and gold are very different assets and the price of gold is more stable than bitcoin because of its high volatility. It's more of a coincidence that time because the price of gold that time is already high compared to bitcoin wherein its price fluctuated from time to time.Title: Re: Bitcoin moves like Gold? Post by: suzanne5223 on January 22, 2020, 11:50:12 PM I would say what most of the people here are saying its just a coincidence. Gold is old and different market then new bitcoin. Gold price is not that volatile as bitcoin is. AFAIK, gold price is on the rise for long time while bitcoin join the party just few days ago. Bitcoin and gold are very different assets and the price of gold is more stable than bitcoin because of its high volatility. It's more of a coincidence that time because the price of gold that time is already high compared to bitcoin wherein its price fluctuated from time to time.Nevertheless, i believe the trend of bitcoin chart moving like gold wont be for long. Title: Re: Bitcoin moves like Gold? Post by: Boov on January 22, 2020, 11:59:26 PM I would say what most of the people here are saying its just a coincidence. Gold is old and different market then new bitcoin. Gold price is not that volatile as bitcoin is. AFAIK, gold price is on the rise for long time while bitcoin join the party just few days ago. Bitcoin and gold are very different assets and the price of gold is more stable than bitcoin because of its high volatility. It's more of a coincidence that time because the price of gold that time is already high compared to bitcoin wherein its price fluctuated from time to time.Nevertheless, i believe the trend of bitcoin chart moving like gold wont be for long. Title: Re: Bitcoin moves like Gold? Post by: Janation on January 23, 2020, 12:49:22 AM Bitcoin's value and gold's value are really different because as we can see the bitcoin's value is lower than the gold. If you have a pieces of gold and sell it to the market you can earn a lot of money depending on its karat while if you have bitcoins, you can earn a lot of money depending on its price in the market like for example this month in which you can earn a little money but enough for your daily needs. What do you mean? Bitcoin now has a higher price than Gold right now. Gold is sold in kilo so if we will be talking about a kilo, obviously Gold would be expensive but if we talk about the price of Bitcoin and Gold, Bitcoin is more expensive. Karat just talks about the purity of gold. You said that you can earn a lot of money from gold, which could be the same about Bitcoin if you will be selling it. If you really want to compare these two, buy 1 Bitcoin and 1 ounce of Gold, sell them in a period of time. Bitcoin has a lot of risks to hold but still, a lot of people earned from it by trading it not selling it directly. Title: Re: Bitcoin moves like Gold? Post by: diahsw on January 23, 2020, 01:07:27 AM I disagree with that statement, bitcoin is more passive and fluctuating to say the same as gold, because for the price of gold we can guess it for some time, but for bitcoin, it is very difficult .. !!
Title: Re: Bitcoin moves like Gold? Post by: MiraMiraMira on January 23, 2020, 02:20:25 AM Perhaps just a coincidence. Because according to the chart, the world price of gold also began to increase during the period when the US and IRAN were at war. The only storage currencies are probably gold and Bitcoin
Title: Re: Bitcoin moves like Gold? Post by: karanggatak on January 23, 2020, 04:36:46 AM I think this is just a coincidence. because gold and bitcoin are two different types of investments they have different units of account. and if we look at bitcoin has very high fluctuations while gold does not. the value of gold is very much influenced by the dollar while bitcoin is not. so I think bitcoin doesn't follow the gold movement.
Title: Re: Bitcoin moves like Gold? Post by: makolz26 on January 23, 2020, 03:59:55 PM I would say what most of the people here are saying its just a coincidence. Gold is old and different market then new bitcoin. Gold price is not that volatile as bitcoin is. AFAIK, gold price is on the rise for long time while bitcoin join the party just few days ago. Bitcoin and gold are very different assets and the price of gold is more stable than bitcoin because of its high volatility. It's more of a coincidence that time because the price of gold that time is already high compared to bitcoin wherein its price fluctuated from time to time.High liquidity is what I think makes gold price more stable then bitcoin. Trusted by investors for centuries, gold is considered as safe haven for storing money. Though many says bitcoin is digital gold, let's see how long it takes bitcoin to beat gold. If you will ask an investor that doesn't know Bitcoin, for sure they will prefer Gold over it, and if you will ask a crypto user, if what they prefer, I think majority will still invest on Gold, but they will also invest in Bitcoin. You are right, we already trust gold that it has been part of our life already, that's why it won't vanished anymore as it has been the real money since the beginning. Title: Re: Bitcoin moves like Gold? Post by: jostorres on January 24, 2020, 03:13:52 PM Moving like gold? Maybe it’s just a coincidence. Bitcoin and gold has nothing in common, there’s no way they are related to each others, they are completely different. That the price moves in position that’s a bit similar doesn’t mean that they are the same thing. If you say this, then what if I tell you that at the time the price of Bitcoin reached it’s ATH price, stocks like Dow Jones and S&P 500 had similar increase, and if you check the graph you will notice the similarities. Things like this do happen and gold is not the first stock that have had a similar graph with Bitcoin. They are all different, there are events that can take place and affect the general market in some ways.
Title: Re: Bitcoin moves like Gold? Post by: Latviand on January 25, 2020, 01:14:33 PM I think it's just a coincidence. if the price of bitcoin is in harmony with the price of gold, there is a possibility that the price of gold is already very high, but it is not, because even though bitcoin and gold are investment tools, they really have different principles. so the level of fluctuation is very different. Yeah I agree, this is just a coincidence, in past, I also think that the price of Bitcoin is in line with the price of gold, Because at that time the price movement of Bitcoin was the same as the price of gold, and it turned out it was just a coincidence. Bitcoin price fluctuations are higher than gold price fluctuations.Title: Re: Bitcoin moves like Gold? Post by: gundala on January 25, 2020, 10:51:29 PM The OP should provide clear information regarding Trump's statement in question, and include a chart related to the intended price development so that we can provide arguments more directed and unambiguous.
Technically, for its value which continues to rise and over time can become a scarce item because the supply is limited, BTC can be equated with gold. But BTC's volatility is very high, one day it can pump very high and one day it can become worthless too. As for gold, with better real value, the price development looks promising although slow. Here we can take the opportunity in both because each can provide a large return for your investment. Title: Re: Bitcoin moves like Gold? Post by: Google+ on January 25, 2020, 11:03:19 PM gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.You can take advantage of price movements to be able to make a profit. Title: Re: Bitcoin moves like Gold? Post by: hahay on January 25, 2020, 11:18:22 PM gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.You can take advantage of price movements to be able to make a profit. Title: Re: Bitcoin moves like Gold? Post by: lepbagong on January 26, 2020, 01:24:06 AM gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.You can take advantage of price movements to be able to make a profit. Title: Re: Bitcoin moves like Gold? Post by: smartbitcoininvestor on January 26, 2020, 02:37:52 AM Bitcoin and Gold aren't the same exact asset but they share many similarities such as scarcity, immutability and the ability to be used as money.
Neither asset is based on credit, so they are both basically inflation proof. Instead, during times of inflation both alternative assets will probably rise in value because the common person will see them as more dependable. Title: Re: Bitcoin moves like Gold? Post by: jtraverso on January 26, 2020, 04:17:04 PM gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.You can take advantage of price movements to be able to make a profit. Gold is used a lot of people compared to bitcoin but now the difference is only slightly not in terms of price but from its benefits, many believe that gold is very stable and in the long run gold can only enjoy profits. But unlike bitcoin, it depends on the market going up and down so there are many who avoid investing in bitcoin, there is also a switch from gold to bitcoin. If we consider Bitcoin and gold as a flexible asset, Bitcoin can bring more profits faster than gold. If we talk about maintaining value for the long term, I would prefer gold Title: Re: Bitcoin moves like Gold? Post by: Clark05 on January 27, 2020, 01:19:52 AM The movement of the bitcoin now is slow but going up and that is okay and I don't want to dump so even the rising is slow for sure it will up more.
I don't think so that the movement of bitcoin is like gold because I know the gold is slower and takes few decades to gold to become very high but bitcoin takes only few months or years. Bitcoin movement is better than the movement of the gold until now. Title: Re: Bitcoin moves like Gold? Post by: carlisle1 on January 27, 2020, 01:23:28 AM cryptocurrency is independent area of investments so i don't think it will follow Golds movement maybe it is much better to say Gold is Following Bitcoins price .
The movement of the bitcoin now is slow but going up and that is okay and I don't want to dump so even the rising is slow for sure it will up more. going up and down but this is more appropriate if you are looking for day trading or short term investing.I don't think so that the movement of bitcoin is like gold because I know the gold is slower and takes few decades to gold to become very high but bitcoin takes only few months or years. Bitcoin movement is better than the movement of the gold until now. that is what exactly why we are here in crypto and not in Banks or stocks,because the volatility can brings us all fast fortune compared to Gold that will take very long time before you taste the profit of your investments.Title: Re: Bitcoin moves like Gold? Post by: Eugenar on January 27, 2020, 01:26:29 AM Both are considerably strong investment platform for investors in the market. And upon thinking deeply about it, I realize that it is not the Gold and Bitcoin that is the same. The common denominator are the investors with the same preferences on how they treat these investment platforms. In a sense that they compare Gold and bitcoin to each other but turns to be realizing that both investment platform depends on them, taking up risk to earn profits. So bitcoin moving like gold is a sign that there is a same person buying gold and bitcoin at the same time.
Title: Re: Bitcoin moves like Gold? Post by: Aying on January 27, 2020, 10:00:27 AM It's because of usd why gold and btc went down it is not that btc movement and crypto market movement takes gold movement. every market have different movements, usd is part of movements of btc and gold so there is no coincidence happen that moment. and big investors now like btc as their main profitable investment and it is fast to sell than gold.
Title: Re: Bitcoin moves like Gold? Post by: Zionatin on January 27, 2020, 05:19:39 PM On any two graphs, you compare eventually they will align, it doesn't mean there is a pattern. I don't think bitcoin moves anything like gold. Gold does not fly up and down like crazy it basically slowly goes up with small dips but you can surely count on it that your gold will be worth more next year then it is this year. Though if you believe in bitcoin you could say the same for it too.
Title: Re: Bitcoin moves like Gold? Post by: Baoo on January 27, 2020, 05:51:10 PM To be honest, we can't compare Bitcoin and Gold in all the ways, both of them are so different, so bitcoin moves like itself. Probably what happened was just coincidence and nothing else, it does not mean that Bitcoin follows Gold.
Furthermore, I don't know why Bitcoin's community are always focusing on the media news despite most of them are fake and they want to achieve their goals through attracting the traders with a trival information. Title: Re: Bitcoin moves like Gold? Post by: Zionatin on January 28, 2020, 06:04:55 PM Maybe if gold took drugs? Steroids? Bitcoin is wild, like a roller coaster but I do agree that it will generally go up. Just look at the chart. You have only lost fiat value if you bought for more then $13k and even if you bought at $18k I still believe bitcoin has plenty room to grow and will be worth a lot more then that. Think from now to 5 years from now. That is plenty of time to expand even more.
Title: Re: Bitcoin moves like Gold? Post by: Getmon on January 29, 2020, 02:39:42 AM Even if they move in similar directions sometimes, it does not prove anything of a correlation. Perhaps if the investment funds are flowing in, there is a portion that goes to gold at the same time there is also a portion that goes to Bitcoin. But whatever, gold and Bitcoin does not move each other, unless either one of them will fall. In that possibility, the investments might shift to the other.
Title: Re: Bitcoin moves like Gold? Post by: supercanada1 on January 29, 2020, 05:35:32 PM Even if they move in similar directions sometimes, it does not prove anything of a correlation. Perhaps if the investment funds are flowing in, there is a portion that goes to gold at the same time there is also a portion that goes to Bitcoin. But whatever, gold and Bitcoin does not move each other, unless either one of them will fall. In that possibility, the investments might shift to the other. Both are different things for me, the prices of both are increasing today but this does not make them relatable. The benefits that Bitcoin can give you in trading you cannot get that benefit from holding gold. It is a safe way for keeping your money but not relatable and better than Bitcoin. For better investment and big results go with Bitcoin for long term trading instead of Gold.Title: Re: Bitcoin moves like Gold? Post by: South Park on January 31, 2020, 06:03:41 PM 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? Title: Re: Bitcoin moves like Gold? Post by: LUCKMCFLY on January 31, 2020, 08:12:06 PM ~snip~ It has had similar movements, although there is no correlation between them, normally the correlation is low, some factors around the world can affect the movement of both gold and Bitcoin and pronounce themselves in similar movements, when it started from war drums between the US . UU. And Iran began these similar movements since Bitcoin began to be used as a refuge of value, everything can start from there, gold has a lot of history, it is possible that due to these events similarities continue to arise in the movements. Title: Re: Bitcoin moves like Gold? Post by: adzino on January 31, 2020, 10:47:05 PM Like in what sense are you wondering if the price of bitcoin moves like a gold or not? The price of bitcoin and other crypto currencies are extremely volatile. Within seconds the price of bitcoin and other cryptocurrencies can jump or fall down badly. But the price of gold is more stable compared to the price of crypto currencies. We don't see much price difference taking place within few seconds.
If you are saying that the price of bitcoin and gold follows each other, then I guess that is just a coincidence. I see no reason for bitcoin to follow the price of gold. Title: Re: Bitcoin moves like Gold? Post by: xiboothrezi on January 31, 2020, 10:53:40 PM Like in what sense are you wondering if the price of bitcoin moves like a gold or not? The price of bitcoin and other crypto currencies are extremely volatile. Within seconds the price of bitcoin and other cryptocurrencies can jump or fall down badly. But the price of gold is more stable compared to the price of crypto currencies. We don't see much price difference taking place within few seconds. Bitcoin is bitcoin, it is not affected or follows any commodity or other currency in the world. Bitcoin has a very unique niche in its own way. it's just that many people who analogize it with gold, as something that is most valuable and potential to be invested, with a record of higher risk. In general, it is almost the same, it must be mined, the amount is limited, and because of its scarcity that prices tend to rise, but differ in physical form and volatility, as you explained, and bitcoin also tends to be riskier.If you are saying that the price of bitcoin and gold follows each other, then I guess that is just a coincidence. I see no reason for bitcoin to follow the price of gold. Title: Re: Bitcoin moves like Gold? Post by: HarmonyA on January 31, 2020, 11:19:28 PM 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, pitched as "advanced gold" shares a considerable lot of indistinguishable qualities from the golden shaded past metal, however surpasses its advantages by coming up short on a physical impression requiring capacity. Bitcoin, as well, requires vault-like stockpiling to shield it from criminals, however it just ever takes up information. Since the two offer such a large number of similar likenesses and advantages, it's not very astounding that the two resource types regularly show relationship in value developments. Title: Re: Bitcoin moves like Gold? Post by: Capt00 on January 31, 2020, 11:58:48 PM Not exactly but bitcoin and gold have a lot of similarity when it comes to investment because of supply and demand but as bitcoin movement is concern we could see the risk of investing in bitcoin for it is very risky to invest in bitcoin comparing it to investing in gold that is sure going to increases its market part in bitcoin for sure. Gold is less volatile than of Bitcoin and that is the fact that Bitcoin can't be similar to whatever it looks like GOld has to be most especially when we are talking about a price trend. And maybe we can see a huge demand for Bitcoin compared to Gold. This basically because Bitcoin investment is more profitable than of Gold and mostly like people are getting interested in it. Though the risk is high but still many individuals will take the risk cause in their mind that they can generate much if they become successful and yet, it is justified to have a positive result if they could play it well.Title: Re: Bitcoin moves like Gold? Post by: chip1994 on February 01, 2020, 05:01:54 AM 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? Title: Re: Bitcoin moves like Gold? Post by: Vishnu.Reang on February 01, 2020, 07:01:15 AM I have been following the Bitcoin prices for the last three years and I have investments in both cryptocurrency and bullion. And till now, I have not noticed any link between the exchange rates of Bitcoin and gold. And I don't think that any correlation exists, since these two are entirely different assets having very few similarities between them.
Title: Re: Bitcoin moves like Gold? Post by: LogitechMouse on February 01, 2020, 09:11:01 AM According to the recent price chart, Bitcoin's move has been very similar to Gold's move. The price of both of the investments moved likely the same just because of the events that happened since the start of the year. I remember when the US-Iran war happened, the price of these 2 moved up while the other investments went down. Recently, after Trump delivered speech, the price of Bitcoin and Gold both went down. Again, it is just a coincidence that these 2 went the same way after the Trump's speech. Remember that when the fight between the 2 happened, the price of both of them increased. Now that it has ended, Bitcoin and Gold must do the same way to - to make a price correction. 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? There are no 2 investments that moves like the same since the price is based on the technicals and fundamentals. These 2 just reacted the same with the news and that's it.Title: Re: Bitcoin moves like Gold? Post by: shoreno on February 01, 2020, 09:37:17 AM yes they are because both are solid investments .
it was like people that invest on gold , also invest in bitcoin and people that invest on bitcoin also invest on gold . thats why both assets moves in a verry simillar ways . but about the trump speech , way people push that it was the reason for the movements of the price ? for me , i dont believe that a single speech can up or dump the price Title: Re: Bitcoin moves like Gold? Post by: Assface16678 on February 01, 2020, 10:07:29 AM yes they are because both are solid investments . it was like people that invest on gold , also invest in bitcoin and people that invest on bitcoin also invest on gold . thats why both assets moves in a verry simillar ways . but about the trump speech , way people push that it was the reason for the movements of the price ? for me , i dont believe that a single speech can up or dump the price Bitcoin and gold today are one of the most profitable earnings today, and it is better if we make some investment while the price of bitcoin and gold are still not too high and get a lot of profit. One of the controversial topic today is the price of the bitcoin and gold because today the cost of the bitcoin is exceeding the market price of the gold and this is a good sign that many people will realize that the bitcoin is more profitable than gold, but we all know that the price of the bitcoin is volatile and we cannot make sure that the price of the coin always goes up rapidly, but we think again that the cost of the gold is fixed and sometimes it goes up more because of the rarity of the gold. Still, it depends on your investment, which one you will choose because those are both expensive and also risky because we need to make a good market sell. Title: Re: Bitcoin moves like Gold? Post by: darewaller on February 01, 2020, 05:41:16 PM I have been following the Bitcoin prices for the last three years and I have investments in both cryptocurrency and bullion. And till now, I have not noticed any link between the exchange rates of Bitcoin and gold. And I don't think that any correlation exists, since these two are entirely different assets having very few similarities between them. Prices for both the commodities too are different and do not run in the same track. Gold is a metal which is available in limited quantity onto the globe which would keep deriving the price for gold on an ascending level due to the rising demand for them. Bitcoins, on the other hand too are limited onto the internet with total 21M supply which also keeps them in demand and continues rising the price.Perhaps this is the only similarity between gold and bitcoins which might have made OP to create this topic. Other than these properties, bitcoins and gold have no other relation and even their prices might run in opposite or even same direction depending on the market conditions. Title: Re: Bitcoin moves like Gold? Post by: bearexin on February 03, 2020, 04:43:55 PM According to the recent price chart, Bitcoin's move has been very similar to Gold's move. 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.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? 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. Title: Re: Bitcoin moves like Gold? Post by: South Park on February 05, 2020, 05:39:09 PM Bitcoin is bitcoin, it is not affected or follows any commodity or other currency in the world. Bitcoin has a very unique niche in its own way. it's just that many people who analogize it with gold, as something that is most valuable and potential to be invested, with a record of higher risk. In general, it is almost the same, it must be mined, the amount is limited, and because of its scarcity that prices tend to rise, but differ in physical form and volatility, as you explained, and bitcoin also tends to be riskier. You are correct when you say that bitcoin does not follow any commodity or currency but you are incorrect when you say it is not affected by them, bitcoin is not isolated from the rest of the economy, bitcoin is now part of it and that means the movements of the other assets are going to affect it, for example it is better for bitcoin that we have a weak dollar that way people will lose confidence in it and they will decide to take their chances with bitcoin, but if we have a strong dollar that is bad for bitcoin as people do not see the need to invest in it.Title: Re: Bitcoin moves like Gold? Post by: LUCKMCFLY on February 05, 2020, 11:32:29 PM yes they are because both are solid investments . it was like people that invest on gold , also invest in bitcoin and people that invest on bitcoin also invest on gold . thats why both assets moves in a verry simillar ways . but about the trump speech , way people push that it was the reason for the movements of the price ? for me , i dont believe that a single speech can up or dump the price What can cause falls is simply a fundamental one, in cases like the past with the problem between Iran and the US the price of Bitcoin and Gold caused a positive effect, since both gold and Bitcoin had the similar movement, which was when they began to say Some analysts that gold and bitcoin had a high positive correlation. Title: Re: Bitcoin moves like Gold? Post by: bryant.coleman on February 07, 2020, 07:26:43 AM LOL.. Bitcoin is only 11 years old, while gold has been used by as a valuable object by the humans for more than 5,000 years now. In order to behave similar to gold, Bitcoin needs to have the same characteristics as gold, which looks impossible at this point. Bitcoin is different from gold in 99% of the aspects. The only similarities include scarce supply and lack of control by the central banks or government. But you really can't compare a digital asset which doesn't exist in physical form with gold or any other precious metal.
Title: Re: Bitcoin moves like Gold? Post by: TheUltraElite on February 14, 2020, 07:34:34 AM ... and lack of control by the central banks or government. Gold ETFs and all are controlled by governments to some extent. There are limitations on how much you can buy from exchanges for ETFs, I guess physical gold does not have such limitations and you meant that.Quote But you really can't compare a digital asset which doesn't exist in physical form with gold or any other precious metal. Bitcoin can exist in physical form for the sake of having one. Did you know we have a "Collectibles" section in this forum where people trade minted coins which are loaded with bitcoin of certain denominations? They have a private key along with the piece so you can redeem it when you like but it is asset worth keeping for yourself and using as a mode of transaction.However this does not differ with your argument that gold and bitcoin are not comparable - which I completely agree with. Title: Re: Bitcoin moves like Gold? Post by: 20kevin20 on February 14, 2020, 10:03:42 AM ~ Bitcoin can exist in physical form for the sake of having one. Did you know we have a "Collectibles" section in this forum where people trade minted coins which are loaded with bitcoin of certain denominations? They have a private key along with the piece so you can redeem it when you like but it is asset worth keeping for yourself and using as a mode of transaction. However this does not differ with your argument that gold and bitcoin are not comparable - which I completely agree with. Minted coins with BTC private keys on them do not make Bitcoin exist in a physical form. If we take it that way, then you can also consider the seed written on a paper to be a physical form of it. The thing is, Gold can be owned as a material if you don't like buying stocks. Bitcoin cannot exist as a material - even if you have a private key minted in a coin, you'd still have to enter that in a digital wallet in order to use it unless you do barter (which can also be done by swapping private keys with anything). BTC doesn't have any property physically either - it only exists in the digital area while Gold can be melted, minted and used in many domains and has amazing properties. That's the main difference. Title: Re: Bitcoin moves like Gold? Post by: Janation on February 14, 2020, 10:19:16 AM The value of bitcoin moves depends on the markets supply and demand. Like gold, its price also moves that way that is why they are more likely have the same movement. But for me, gold is much more stable than bitcoin plus the fact that it is physically present, unlike bitcoin which is digital. Also, we should not forget the factor that gold has a tax while btc doesn't have any. What he have said is correct. There are a lot of chances they may have the same movement, but then if you look at it, Bitcoin is volatile, not as same as gold which is more stable. They both have their pros and cons, and still, bitcoin and other cryptocurrencies are on their way to be known and be used by many people. I just hope they are taking this path. Bitcoin's volatility really is the reason why it will never be the same as Gold. With the fast-changing prices in the cryptocurrency market, Gold will stay at that slow pace and it favors a lot of its investors. As Bitcoin is so risky, Gold is said to be safe by a lot of investors they are even suggesting it to people who wants to invest. Title: Re: Bitcoin moves like Gold? Post by: ballerin and giroud on February 14, 2020, 11:56:54 AM Like gold? I think is no. Bitcoin just need several times to be known by most people so as more and more people use bitcoin and buy bitcoin then the price will up. But I see the price of gold right now, although gold can be said as safe heaven but there is just a few people who interested to make it as their investment place. Moreover, with the popping up of new investment place the people will tend to choose the new place rather gold. Because in the side of profit I can say the new place will more profitable. And if we say about safe heaven, it mean the movement pricr of gold is really stagnant and it doesn't like with bitcoin who just need several time to up more then $1000.
Title: Re: Bitcoin moves like Gold? Post by: TheUltraElite on February 23, 2020, 04:19:04 AM Minted coins with BTC private keys on them do not make Bitcoin exist in a physical form. If we take it that way, then you can also consider the seed written on a paper to be a physical form of it. What is your take on the metal used to prepare the physical coin. They are an additional value to the collectible if made from a percious metal like gold?Quote BTC doesn't have any property physically either - it only exists in the digital area while Gold can be melted, minted and used in many domains and has amazing properties. That's the main difference. That is why the OP's claims are flawed. Gold can be used in other places at prices while fiat cannot be used to. Gold has higher acceptance than bitcoin which needs more work in that sector. While gold ETFs exist, bitcoin still needs a lot of work on being bought and sold as ETF.Talking about ETF, that would be like a stock in case they dont want "digitally" to own that bitcoin. But it is still a long way to go now. Title: Re: Bitcoin moves like Gold? Post by: Cryptoangel01 on February 23, 2020, 07:10:07 AM 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? No, Bitcoin moves in its own right and lane however if you check the chart pattern you will find that they don't look similar in movement even though Gold have been moving for sometime, its still deem a risky asset to accumulate right now however due to halving coming very soon, we should have even more bigger growths. Title: Re: Bitcoin moves like Gold? Post by: 20kevin20 on February 23, 2020, 08:35:08 AM Quote from: TheUltraElite link=topic=5219385.msg53893193#msg53893193 What is your take on the metal used to prepare the physical coin. They are an additional value to the collectible if made from a percious metal like gold? Obviously yes, but my opinion is they don't go together. Although they're both commodities and a safe haven, they're two different things.~ For purely collection purposes (i.e. Casascius) that's a good idea, but otherwise no. I'd buy a gold coin with BTC on it for my children or grandchildren, but I wouldn't for myself. One of the fears I'm having about mixing Bitcoin with gold is that the confiscation of gold in my country would also mean seizing my Bitcoin. And as history shows us, that's entirely possible. We have to separate the two. Gold is gold, Bitcoin is Bitcoin. There aren't really any similarities except their name (gold and digital gold). Moreover, the states aren't even very happy to know someone's minting gold/silver loaded with Bitcoin on them, so what's the point? If these coins existed in a much larger quantity, say hello to a 2x risk of investment (the possibility of the precious metal being fake and/or the Bitcoin address showing up as filled with some balance but in reality there's no private key to it). Title: Re: Bitcoin moves like Gold? Post by: fiulpro on February 23, 2020, 09:53:49 AM Sorry but I do not think that is nearly true .
The thing is bitcoins and gold both are very different currencies and their movements are in no way similar , bitcoins is volatile and increases and decreases their price accordingly , if a president says something yes ofc not only Bitcoins or gold will change price but everything else will too , whatever is a reserve or store house of money for the people , it is not a basis to say that they move similarly . These are poles apart and do need separate basis for analysis. Title: Re: Bitcoin moves like Gold? Post by: alizarosa3123 on April 21, 2020, 07:10:03 PM I believe this is just an event. Once the price of Bitcoin is combined with the value of gold, the value of gold is likely to be as high as it is now, but despite the encouragement of Bitcoin and gold it is not that the instrument on the basis, they really have different values. Therefore the degree of vacuum is completely different.
Title: Re: Bitcoin moves like Gold? Post by: pankaj1234 on April 22, 2020, 06:10:15 AM I think so bitcoin will definitely go up and very high because when anything that has limited supply price of that thing will go beyond imagination. Gold is now at highest price now. In cryptocurrencies every body organisation looking to launch his crypto and real world money is spreding in market that my harsh market in crypto arena. I am sure about bitcoin that with limited supply btc will definitely go high and make new highest point.
Title: Re: Bitcoin moves like Gold? Post by: romero121 on April 22, 2020, 06:27:23 AM Bitcoin getting similar to that of gold isn't real. At certain circumstances it looks like gold and bitcoin market moves to be the same. To reach the level of gold isn't an easy thing, as most of the users mentioned the acceptance level of gold is far far than bitcoin. The market supply and its demand is won't fallback with gold, because each and every country's economy is tied to it. Maybe in future as a result of digital growth same scenario can happen with bitcoin.
Title: Re: Bitcoin moves like Gold? Post by: matchi2011 on April 22, 2020, 07:24:41 AM I think so bitcoin will definitely go up and very high because when anything that has limited supply price of that thing will go beyond imagination. Gold is now at highest price now. In cryptocurrencies every body organisation looking to launch his crypto and real world money is spreding in market that my harsh market in crypto arena. I am sure about bitcoin that with limited supply btc will definitely go high and make new highest point. Once support coming from different sides of the world it will rise much higher, since there's limited supplies and if financial market appreciate and begins to use this system, there would be more demands that will be ask for this crypto currency. It's not far from reality that incoming years the value of crypto will be higher than what we are seeing right now, but success will still be depends from how investors will support this system.Title: Re: Bitcoin moves like Gold? Post by: hushpupppy on April 22, 2020, 08:27:10 AM 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? I want to disagree with you; if you check charts and perhaps percentages , i bet you will disagree that bitcoin moves like gold. When bitcoin went down to $3000+ from $7000+ Gold went from $51 to $48 (i get my gold price deductions from digital gold token (a gold backed stable coin)] How do you compare such loss? Title: Re: Bitcoin moves like Gold? Post by: denzkilim on April 26, 2020, 01:00:52 PM 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? Title: Re: Bitcoin moves like Gold? Post by: ampere on April 26, 2020, 01:04:55 PM It's more of a coincidence. Gold is much more stable than Bitcoin. It is not a coincidence, most times trade charts of markets do look alike in movement but not in price. Gold is not much more stable, Gold is stable snd experience low vulnerabilities in most cases. Bitcoin meanwhile is volatile and not stable, that is why it is better referenced as investment option and not store of value Title: Re: Bitcoin moves like Gold? Post by: BitcoinsGreat on April 26, 2020, 01:08:33 PM Not exactly, these are two different investments with different goals. The biggest difference between gold and bitcoin investment is - Gold investment is Low risk while bitcoin investment is High Risk - Gold will give you less ROI while Bitcoin will give you more ROI (Return on Investment) Title: Re: Bitcoin moves like Gold? Post by: ReiMomo on April 26, 2020, 01:13:25 PM Not exactly, these are two different investments with different goals. The biggest difference between gold and bitcoin investment is - Gold Investmant is Low risk while bitcoin Invest Title: Re: Bitcoin moves like Gold? Post by: MCobian on April 26, 2020, 01:17:57 PM Bitcoin movements based on supply and demand, it is not possible to follow the movement of gold. Even though the movements are
similar now, it doesn't mean bitcoin movement is the same as gold. I am sure this is just a coincidence. Maybe when trump delivered speech does have a bad effect to bitcoin and gold, so they both experienced a price decline. But I still believe bitcoin doesn't move like gold, just go ahead prove in the near future the bitcoin movement will be different from gold. Title: Re: Bitcoin moves like Gold? Post by: Twentyonepaylots on April 26, 2020, 01:43:21 PM Not exactly, these are two different investments with different goals. The biggest difference between gold and bitcoin investment is - Gold investment is Low risk while bitcoin investment is High Risk - Gold will give you less ROI while Bitcoin will give you more ROI (Return on Investment) Less ROI for gold or none at all. If you are looking for ROI with certainty then go with business, but if you are looking for investment with good ROI then go with bitcoin but also need to consider the bitcoin because it has a high volatility rate.Title: Re: Bitcoin moves like Gold? Post by: BD Money365 on April 26, 2020, 03:49:54 PM Gold and Bitcoin will most likely go behind the constant avenue simply IF Bitcoin will bear out to be a innocent retreat during the subsequently stage of unkind times. Investors are unclear whether Bitcoin acting a confirmed or a downbeat part during a crisis. That's why the prices respect approximately the consistent pattern but occasionally they move undo ways.
Bitcoin market is so volatile rather than gold market that's why invest bitcoin is so risky, Gold is said to be safe by a lot of investors they are even suggesting it to people who wants to invest. Title: Re: Bitcoin moves like Gold? Post by: The Sceptical Chymist on April 27, 2020, 10:09:42 AM Eh, check the 10-year charts of gold, silver, bitcoin, stock indexes, and whatever else you're looking to see if there's a correlation present among them. I haven't done this myself, but just asserting that gold reacted like bitcoin after some Trump statements (which were probably moronic anyway) isn't a rigorous analysis.
Gold and bitcoin might be acting similarly lately, but other assets have bounced back from the beginning month of the COVID-19 outbreak, which just tells me that money has started to pout back into the markets and investors might be getting a little bit less fearful of what's to come (and we'll see about that). |