Is there a relation between Bitcoinprice and Gold price?

[iyan33]

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.

Bitcoin prices are now starting to increase gradually perhaps because of the demand to buy back bitcoin, and I think it's a good time to buy bitcoin because the current price of bitcoin drops. And it seems like some of them are trying to do speculation by buying bitcoin at moment, maybe As a future investment

[Vikingr]

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.

Yes gold has been displaying stability in price over last few years and crypto market is facing drastic fluctuations. I don’t think so a comparison should be made between bitcoins and gold. Both are poles apart in nature and capabilities. Bitcoins if have had dumped badly, then on the other hand, bitcoins have reached the peaks leaving many investors as millionaires. 

[wuvdoll]

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.

The cause of demand decrease just because the implementation to increase the transaction speed and boost the bitcoin more than before that's why the demand decrease but it is the signal to those to buy once again bitcoin in a cheap price because after all the result of 1 Aug the price will goes more higher than before.

[bitllionaire]

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.

Yes gold has been displaying stability in price over last few years and crypto market is facing drastic fluctuations. I don’t think so a comparison should be made between bitcoins and gold. Both are poles apart in nature and capabilities. Bitcoins if have had dumped badly, then on the other hand, bitcoins have reached the peaks leaving many investors as millionaires. 

yes that is right that bitcoin is too much stable for a long time.  therefore we cannot expect such a good profit from investing in gold. but if we invest our assets in bitcoin we can really make a good profit from investing in bitcoin in a short time. i personally have invested a good amount of money in bitcoin.

[senin]

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

The relationship between the bitcoin course and the gold rate can not be, because bitcoin and gold are different in nature. The digital currency and gold as a precious metal and payment measure are not connected in any way and exist separately from each other according to their established rules.

[Despacito]

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.

That's just a coinsidence. There is no relationship between gold and bitcoin price. There is not even a correlation. To verify this is only a coinsidence we can simply check the prices in 2016 and 2016 so we'll see there's no relationship.

[New2coin]

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.

I could see the rich owning a good portion of the bitcoins. Look at it like this.. There are 7,000,000,000 people on earth and 21,000,000 coins. If one was handed out to every person until they were gone only 3% would own a coin. 3% out of 100% is not a high number and I think that would really cut the market. I understand you can buy them in smaller amounts but eventually the price of one coin would be so high that it would deter people even if they could buy portions of a coin. To me it seem like it would people that would be able to afford the coin would be the rich and the rich get get from the poor, not the rich.

[jc89]

I don't think there is any relation between gold price and bitcoin price. Aside from some factors that affects both of them in terms of price value. According to Total Bitcoin, the factors that affect bitcoin price includes governmeny regulation, media influence, stability of the bitcoin network, the demand and supply, wider mainstream acceptance, large businesses dumping to fiat currency, technological changes and innovations, and market manipulation. While for the gold price, according to Scottsdale Bullion and Coin, the factors are global crisis, inflation, value of US dollar, central bank instability, interest rates, quantitative easing, government reserves, jewelry and industry, gold production, and the supply and demand. One thing that is clearly common between gold and bitcoin is the effect of price and demand that is relative in any goods or product's price.

[BTC67890]

I do have the same question in my mind, so reading all your replies make me concludes it does'nt  have any connection at all. Its almost 99.9 % observations. Thanks guys.

[SHANTA]

I don't think there is any noteworthy connection amongst gold and Bitcoin's cost since they are totally unique things and are not exchanged on a similar exchanging stage. You may discover some example amongst Bitcoin and other altcoin's cost yet gold or fiat advertise doesn't influence Bitcoin's market.

[magneto]

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

Short term wise, i don't think so. Even if there was a correlation it is definitely an extremely small one, smal enough to be ignored. Reason being that bitcoin is influenced by factors within its own community, such as forks, network congestion, transaction fees and the demand of bitcoin overall.

Gold is completely different, obviously you would expect gold to go up when fiats are weak and vice versa. Bitcoin hasn't got the sort of status yet to do the same things gold is doing.

But in the long term i suspect gold and bitcoin will all be in an up trend as more and more people realise fiat isn't the solution to our problems.

[Netnox]

I don't think that there is any correlation between the prices of Bitcoin and gold, although I can see some link in the value of the United States Dollar with the prices of both these assets. A reason may be due to the fact that Bitcoin and gold caters to different type of investors. Those who are after quick returns will go with BTC, while those who are interested in low risk assets with guaranteed returns will go for gold.

[JimmieA]

Systematic correlation? I think it does not exist. In fact, btc transactions do not seem to be related to gold,  only to the altcoins and dollars.Maybe that's just a coincidence ... all of that can happen.The rise or fall in prices is due to a number of determinants and factors that affect the price of btc and gold prices are different.

[Kronos21]

It seems to me that an indirect link bitcoin with gold is. Many people have chosen bitcoin as an alternative to the U.S. dollar. Previously, if you don't trust the dollar you had to choose gold. Now this feature was touched on bitcoin and it stopped the rampant growth of gold prices.

[onrise]

I do not think there is direct correlation between the two considering gold is being accepted worldwide from ages and so is not the case with bitcoin at present. Well gold can be bought/sold by anyone across world legally but bitcoin cannot be in many countries.

[zeze18]

I do not think there is direct correlation between the two considering gold is being accepted worldwide from ages and so is not the case with bitcoin at present. Well gold can be bought/sold by anyone across world legally but bitcoin cannot be in many countries.

There is no relationship between gold with bitcoin, because both have different features and functions as well as how to use them.
Although bitcoin can not be used globally for now, but over time, bitcoin will gain recognition of its legality and can be used across the country.

[gentlemand]

Apart from a small minority I don't believe there's much overlap in who's buying both of them so I don't see where an overlap can come from.

Some people like to think Bitcoin is a safe haven a la gold but I think they're deluding themselves. It's many years away from fulfilling the role gold does. It does do it far better so perhaps the day will arrive.

[Hamphser]

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

I would say that Gold market hasnt anything related to bitcoin or Bitcoin related to Gold since they do have different markets and in fact bitcoin is a digital asset and gold is a precious metal. Moving prices are no correlated to each other which means they are both independent when it comes to their price movements. But still if we do have the money to invest i would really put up money on bitcoin and also on gold as well because i do see the potential to rise up its price.

[smileee]

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

In my personal opinion, there is no relationship between bitcoin and gold. Bitcoin is a type of digital money, gold is a precious material of old. Bitcoin and gold are suitable for use in different fields. Gold is usually used directly in contrast to bitcoin-online transactions. The price of gold does not affect the value of Bitcoin. It's easy to see that Bitcoin only took eight years to raise the value of the leverage to thousands of dollars. Gold does not do that.

[sakkosekk]

The question ceases sucw interesting. I think the first common point between Bitcoin and gold is that they are limited, Bitcoin has only 21 million, so is gold. They vary by market, but in general they are not inflation but deflation. Therefore, both Bitcoin and Gold are good investment channels to protect assets against financial fluctuations. Also I think they have in common is rare. A few months ago Bitcoin prices reached an ounce of gold. And now it's twice. Amazing. If I were to choose between Bitcoin and Bitcoin, I would choose Bitcoin because I believe it will continue to increase, which would be a good investment for the future.