albibu (OP)
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July 16, 2017, 08:04:20 PM |
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Hi folks, I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and www.bitcoin.com and Gold price www.goldprice.com . If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation? Thanks in advance
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Hasbro27
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July 16, 2017, 08:24:10 PM |
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I think there is no connection between bitcoin and gold prices, because in my opinion investments in gold and bitcoin are different, that's in my opinion
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Zenithar
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July 16, 2017, 11:18:43 PM |
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I think there is no connection between bitcoin and gold prices, because in my opinion investments in gold and bitcoin are different, that's in my opinion
i also do not think that there is any relation between bitcoin and gold price. bitcoin is a digital currency while gold is an precious element that people mostly use for investment and for so many other purposes. while bitcoin is a currency and we use it for online shopping even in some place people are using it as a fiat currency in their local shops, so i do not think that here is any relation between the price of gold and bitcoin.
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xuan87
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July 16, 2017, 11:24:37 PM |
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No it doesn't relate at all, each of them has the factors that caused the price to down and go up, the one that makes it seems like it's connected is because we are using the same currency converter which is us dollar, so it seems like they are connected but actually they are different
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ufaiz50
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July 17, 2017, 12:04:20 AM |
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no. i think the decline is happening on bitcoin due to chain split in 1 august which causes the demand to decrease. there are many factors that determine the price of gold while the bitcoin price is determined by supply and demand.
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RealBitcoin
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July 17, 2017, 12:55:23 AM |
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Not from what I have researched. It looks like 2 totally different markets moven by totally different motives.
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cafucafucafu
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July 17, 2017, 03:26:54 AM |
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Hi folks, I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and www.bitcoin.com and Gold price www.goldprice.com . If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation? Thanks in advance Hmm, the graphs definitely look pretty similar but I can't think of any reasons why they might be related. They are 2 different types of investments with probably different markets as well. Maybe think of this in a practical sense and it will be easier to explain. Bitcoin is a fairly new cryptocurrency that has a new market, is decentralized and also can be used to make purchases online. While gold is a rare metal, that is used for fashion and also one of the oldest investment options out there, it is super stable and is on a steady climb up, while bitcoin just feel around 1000 USD in the span of one week. Both investment options, but they are still totally different things, and probably have no relation to each other.
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Manuj
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July 17, 2017, 04:20:38 AM |
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I think there is none. Bitcoin and gold are two different bananas. They will not affect each other's value.
What you have notice in the charts are mere coincidences. After all, there will always be a high and low movement in any market, be it bitcoin or gold or silver or foreign exchange rates, etc. These are affected by a different set of unique circumstances because they are independent from each other.
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amacar2
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July 17, 2017, 04:45:49 AM |
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If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation?
I don't think there is any significant relation between gold and bitcoin's price because they are completely different things and are not traded on same trading platform. You may find some pattern between bitcoin and other altcoin's price but gold or fiat market doesn't affect bitcoin's market.
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freedomno1
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July 17, 2017, 05:12:00 AM |
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Low correlation in regards to each other but a high correlation towards where asset classes are moved in times of economic crisis, example people escaping the fiat currency of the country in jeopardy / in question in this case and move it towards a different holding that has better reliability. Also maybe a small but growing conversion from technological gold buff users toward digital gold.
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Believing in Bitcoins and it's ability to change the world
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ladydark
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July 17, 2017, 05:16:25 AM |
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There is no connection between bitcoin price and gold price.Gold is a commodity which is being bought by people for centuries.Bitcoin is introduced as a currency and now it is being used as an investment by most people.The increase and decrease in bitcoin price has no impact on the price of gold.Even if few investors move from gold to bitcoins,then also gold price would not fall since there is a huge demand for gold all over the world.
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jerowacik
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July 17, 2017, 05:22:47 AM |
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There is no connection between bitcoin price and gold price.Gold is a commodity which is being bought by people for centuries.Bitcoin is introduced as a currency and now it is being used as an investment by most people.The increase and decrease in bitcoin price has no impact on the price of gold.Even if few investors move from gold to bitcoins,then also gold price would not fall since there is a huge demand for gold all over the world.
I agree with you . Gold and bitcoin are very different. Seeing in terms of form is clearly different, I see that gold has a great power in maintaining its value so that gold prices tend to be stable. While bitcoin has high price fluctuations making it very easy to move up and down.
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aTriz
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July 17, 2017, 06:36:10 AM |
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Hi folks, I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and www.bitcoin.com and Gold price www.goldprice.com . If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation? Thanks in advance Don't think there is much of a relationship with gold and bitcoin, they are both investments but that is all their similarities and of course not any bunch of investments are related. Gold is super stable and barely rises or falls, while on the other hand, Bitcoin is a decentralized currency which makes it fall and rise in price a lot. Gold has been around for centuries as a precious metal and something that held value, but Bitcoin has only been around for 10 years or so. I don't think that when gold falls or when Bitcoin falls, the other investment will fall as well.
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Doms
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July 17, 2017, 06:48:54 AM |
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The price of gold has largely been stable over the years, while that of bitcoin's has wildly fluctuated especially this 2017 where we saw it rise to as much as $3000 and dip to where it is now. The crypto currencies have all been down over the last couple and weeks, shedding about $30 billion in market cap over that period of time compared to gold that has been in its usual price range.
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megynacuna
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July 17, 2017, 08:07:57 PM |
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The price of gold has largely been stable over the years, while that of bitcoin's has wildly fluctuated especially this 2017 where we saw it rise to as much as $3000 and dip to where it is now. The crypto currencies have all been down over the last couple and weeks, shedding about $30 billion in market cap over that period of time compared to gold that has been in its usual price range.
They will both have a relationship if the circumstances of one affects the other and from current circumstances gold is independent of Bitcoin and vice versa so I don't think the fall or rise in prices of one is directly related to the rise and fall in another.
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xbiv2
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July 17, 2017, 08:28:48 PM |
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Hi folks, I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and www.bitcoin.com and Gold price www.goldprice.com . If you look at the charts in evident that gold started to drop when bitcoin did or vice versa? Is there any systematic correlation? Thanks in advance BITCOIN eat GOLD.
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phil65
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July 17, 2017, 08:32:09 PM |
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I also think that bitcoin will continue to eat up some of the gold market share.
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Cruxer
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July 17, 2017, 08:36:52 PM |
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Hi folks, I'm new posting here but old investor. I was wondering if there's a direct correlation between bitcoin price and www.bitcoin.com and Gold price www.goldprice.com . No, because these are two diffrent things.I mean they are both store of value mainly, but bitcoin is so much more, and so much easier to handle/exchange. Its in the end apple and oranges.
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btcjocan
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July 17, 2017, 08:37:12 PM |
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no. i think the decline is happening on bitcoin due to chain split in 1 august which causes the demand to decrease. there are many factors that determine the price of gold while the bitcoin price is determined by supply and demand.
I agree to that mate, the price will really matter between the supply and demand because of you have more supply many can buy; but if there is less I think everybody can sell their asset. That's how I view the scenario that had happened lately more were pulling out their eggs in the basket, just like bitcoin being sold lately and other's realized that there's no problem about that speculations around; buying back started again.
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Adbitco
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July 17, 2017, 08:38:09 PM |
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This might have been a coincidence that the prices of gold have fallen along with the prices of bitcoin otherwise there's no direct relation between the two of them. A lot of people still prefer gold over any other sort of investment and bitcoin is not even known to as many people as gold is.
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