I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?
Not quite sure about that trend because I hardly invest in gold so not sure if that is true but I believe that there is literally no connection between a centralized and taxed asset opposite of a decentralized and digital asset. There might be relations like when the gold price is down it means that the trend is shifting towards more digital assets and investing so that might be the case. I also think that in coming time all the physical assets will vanish and there will be better and safer assets built on the blockchain some centralized while some decentralized both offering way better value and ease as compared to physical assets like gold and diamonds. Don't take it as physical assets. Coz Gold is also in the Crypto market too. (Digital Gold) And the thing is when a stimulus package release from the US government we can see a big pump of Gold and meantime we can see how the BTC behave with the package. May be we can expect some struggle of pumping BTC. |
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I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?
It’s negative for the both of them, although sometimes there are things that can happen and the market will look like they are going the same direction for sometime, this happens at times, and it can be some kind of serious event that can have heavy effect on every market. Bitcoin and gold have a small connection in my opinion. Both gold and bitcoin were based on the demand to supply. With bitcoin it is completely associated with technology whereas gold is connected with the natural resource. Gold has got long years of history and the same has made it to be more valuable. With bitcoin, it is very young and much to be reached.
These two assets are very different from each other, they are not the same. I don’t even know who came up with the word digital gold for Bitcoin. Bitcoin is not gold, it doesn’t have anything to do with gold, they are different and their charts move differently, and it’s all relying on their level of demand and that of supply. If you look at them very closely you can see the relationship between them. Most of the time if the Gold pump BTC is ranging or a little bit of dumping. And If the BTC pump gold is ranging or downwards. Sorry for replying lately coz I did an analysis about those two assets. |
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I am a crypto trader as well as a forex trader. I started working on forex recently. I saw some relationship between BTC and Gold. When the BTC pump Gold will fall. On the other hand when a Gold pumps, Btc down. Are there any who noticed this?
It’s negative for the both of them, although sometimes there are things that can happen and the market will look like they are going the same direction for sometime, this happens at times, and it can be some kind of serious event that can have heavy effect on every market. Bitcoin and gold have a small connection in my opinion. Both gold and bitcoin were based on the demand to supply. With bitcoin it is completely associated with technology whereas gold is connected with the natural resource. Gold has got long years of history and the same has made it to be more valuable. With bitcoin, it is very young and much to be reached.
These two assets are very different from each other, they are not the same. I don’t even know who came up with the word digital gold for Bitcoin. Bitcoin is not gold, it doesn’t have anything to do with gold, they are different and their charts move differently, and it’s all relying on their level of demand and that of supply. Digital Giold at as a stable coin according to my point of view. So I think it will be one of the upcoming best stable coins after USDT. |
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