Bitcoin moves like Gold?

[red4slash]

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.

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[yulionoo]

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.

[blckhawk]

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.

[d.kevin29]

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.

[Astvile]

But is this still enough to say that Bitcoin moves like Gold?

No. I think this is just a coincidence that happens in each and every graph in the cryptocurrency world even in stocks and forex.
Their price movement will never be the same because they are on different platforms and different means of trading.

[hendra147]

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.

[BitcoinHunt3r]

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.

[bitcoindusts]

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.

[Warkop]

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 ...

[Rafiqul]

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.

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.

[Hypnosis00]

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.

[FairUser]

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.

[suvo05]

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.

[CarnagexD]

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.

[msarro]

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.

[Artemis3]

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.

[bitcampaign]

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.

yes even the tweets from Trump have no effect on the price of bitcoin whether it's positive or negative tweets, so bitcoin has no effect on the price of gold, so indeed movements by chance might be a bit similar in common but it was just a coincidence not because of the movement of bitcoin following the price of gold, at this time the price of bitcoin rose slightly hundreds of dollars not followed by gold

[bounceback]

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.

[iotarocket]

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.

[Murat]

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.