Bitcoin moves like Gold?

[hushpupppy]

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?

[denzkilim]

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 guess you're out of your mind and know nothing at any kind of market movements. Any kind of asset or any kind of stock can have the same momentum of movement anytime and their gains and loss can be the same. There is a thing called that it happens by chance. I know that you know that answer to your question and Bitcoin isn't moving like gold and if ever Bitcoin moves like gold expect that price to be stagnant for a long period of time. Sometimes you just need to use common sense to understand things.

[ampere]

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

[BitcoinsGreat]

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)

[ReiMomo]

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

They need to understand the word "volatility" which means there's no permanent or stable price occur and that is how Bitcoin works here compared to gold. Gold is an almost stable price and it might move depending on the movement of the stock market. Gold also was fully controlled by the government whereas Bitcoin was based on the demand and supply that makes the price becomes volatility on the market and cause of fluctuation every now and then.

[MCobian]

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.

[Twentyonepaylots]

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

With today's gold price stabilization, I don't think you need to consider it as an investment since we haven't seen its price increasing that much for a very long time while bitcoin on the other hand has its own support for the price to rise each every year. So gold is more likely an asset, a safe haven for your money because it never losses its value. You better think what you need right now, an asset or an investment.

- 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.

[BD Money365]

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.

[The Sceptical Chymist]

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).