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Author Topic: Bitcoin moves like Gold?  (Read 1588 times)
lepbagong
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January 26, 2020, 01:24:06 AM
 #61

gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental
indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.

You can take advantage of price movements to be able to make a profit.
Yes, the prices of the two are indeed different but if the movements will resemble then it is still possible, we do not know if that is a coincidence or indeed will happen for the next movement, if the movements are similar in several periods then it is clearly a similar movement but this event is not even too often and by chance economic conditions are also weakening so we cannot conclude if the movement of bitcoin will become like gold because it is an uncertain event.
it is recognized that the movements between gold and bitcoin can be the same but there will always be differences between them. gold will always be associated with major world economic events which will obviously be affected by the american dollar. but not with bitcoin of course although there are similarities in influence, but bitcoin is more influenced by the sentiment of social media and the main players who hold large bitcoin. but they are both certainly not certain and unpredictable.

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January 26, 2020, 02:37:52 AM
 #62

Bitcoin and Gold aren't the same exact asset but they share many similarities such as scarcity, immutability and the ability to be used as money.

Neither asset is based on credit, so they are both basically inflation proof. Instead, during times of inflation both alternative assets will probably rise in value because the common person will see them as more dependable.

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January 26, 2020, 04:17:04 PM
 #63

gold price is not like bitcoin, but i think it because asset. when something happen asset will take effect, it doesnt mean that trump speech will give effect on bitcoin price, maybe it just accidental
indeed gold and bitcoin have very clear differences and price movements should be very different if there are similarities it might not be intentional, but I feel the condition of the world economy is also a very strong influence.

You can take advantage of price movements to be able to make a profit.

Gold is used a lot of people compared to bitcoin but now the difference is only slightly not in terms of price but from its benefits, many believe that gold is very stable and in the long run gold can only enjoy profits.
But unlike bitcoin, it depends on the market going up and down so there are many who avoid investing in bitcoin, there is also a switch from gold to bitcoin.

If we consider Bitcoin and gold as a flexible asset, Bitcoin can bring more profits faster than gold. If we talk about maintaining value for the long term, I would prefer gold
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January 27, 2020, 01:19:52 AM
 #64

The movement of the bitcoin now is slow but going up and that is okay and I don't want to dump so even the rising is slow  for sure it will up more.

I don't think so that the movement of bitcoin is like gold because I know the gold is slower and takes few decades to gold to become very high but bitcoin takes only few months or years. Bitcoin movement is better than the movement of the gold until now.

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January 27, 2020, 01:23:28 AM
 #65

cryptocurrency is independent area of investments so i don't think it will follow Golds movement maybe it is much better to say Gold is Following Bitcoins price .

The movement of the bitcoin now is slow but going up and that is okay and I don't want to dump so even the rising is slow  for sure it will up more.
going up and down but this is more appropriate if you are looking for day trading or short term investing.
I don't think so that the movement of bitcoin is like gold because I know the gold is slower and takes few decades to gold to become very high but bitcoin takes only few months or years. Bitcoin movement is better than the movement of the gold until now.
that is what exactly why we are here in crypto and not in Banks or stocks,because the volatility can brings us all fast fortune compared to Gold that will take very long time before you taste the profit of your investments.

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January 27, 2020, 01:26:29 AM
 #66

Both are considerably strong investment platform for investors in the market. And upon thinking deeply about it, I realize that it is not the Gold and Bitcoin that is the same. The common denominator are the investors with the same preferences on how they treat these investment platforms. In a sense that they compare Gold and bitcoin to each other but turns to be realizing that both investment platform depends on them, taking up risk to earn profits. So bitcoin moving like gold is a sign that there is a same person buying gold and bitcoin at the same time.
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January 27, 2020, 10:00:27 AM
 #67

It's because of usd why gold and btc went down it is not that btc movement and crypto market movement takes gold movement. every market have different movements, usd is part of movements of btc and gold so there is no coincidence happen that moment. and big investors now like btc as their main profitable investment and it is fast to sell than gold.

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January 27, 2020, 05:19:39 PM
 #68

On any two graphs, you compare eventually they will align, it doesn't mean there is a pattern. I don't think bitcoin moves anything like gold. Gold does not fly up and down like crazy it basically slowly goes up with small dips but you can surely count on it that your gold will be worth more next year then it is this year. Though if you believe in bitcoin you could say the same for it too.

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January 27, 2020, 05:51:10 PM
 #69

To be honest, we can't compare Bitcoin and Gold in all the ways, both of them are so different, so bitcoin moves like itself. Probably what happened was just  coincidence and nothing else, it does not mean that Bitcoin follows Gold.
Furthermore, I don't know why Bitcoin's community are always  focusing on the media news despite most of them are fake and they want to achieve their goals through attracting the traders with a trival information.
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January 28, 2020, 06:04:55 PM
 #70

Maybe if gold took drugs? Steroids? Bitcoin is wild, like a roller coaster but I do agree that it will generally go up. Just look at the chart. You have only lost fiat value if you bought for more then $13k and even if you bought at $18k I still believe bitcoin has plenty room to grow and will be worth a lot more then that. Think from now to 5 years from now. That is plenty of time to expand even more.

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January 29, 2020, 02:39:42 AM
 #71

Even if they move in similar directions sometimes, it does not prove anything of a correlation. Perhaps if the investment funds are flowing in, there is a portion that goes to gold at the same time there is also a portion that goes to Bitcoin. But whatever, gold and Bitcoin does not move each other, unless either one of them will fall. In that possibility, the investments might shift to the other.
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January 29, 2020, 05:35:32 PM
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 #72

Even if they move in similar directions sometimes, it does not prove anything of a correlation. Perhaps if the investment funds are flowing in, there is a portion that goes to gold at the same time there is also a portion that goes to Bitcoin. But whatever, gold and Bitcoin does not move each other, unless either one of them will fall. In that possibility, the investments might shift to the other.
Both are different things for me, the prices of both are increasing today but this does not make them relatable. The benefits that Bitcoin can give you in trading you cannot get that benefit from holding gold. It is a safe way for keeping your money but not relatable and better than Bitcoin. For better investment and big results go with Bitcoin for long term trading instead of Gold.
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January 31, 2020, 06:03:41 PM
 #73




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?
During the most recent weeks bitcoin is moving more like gold than as another type of asset and that is interesting to say the least, for a long to me it was speculated that bitcoin will become the gold of the 21 century and many people laughed about that statement but now we are beginning to see the first evidence of this becoming true in the future, and personally I am happy for this, this means that in the future bitcoin could take away some of the market cap of gold and become incredibly valuable.



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January 31, 2020, 08:12:06 PM
 #74

~snip~

It has had similar movements, although there is no correlation between them, normally the correlation is low, some factors around the world can affect the movement of both gold and Bitcoin and pronounce themselves in similar movements, when it started from war drums between the US . UU. And Iran began these similar movements since Bitcoin began to be used as a refuge of value, everything can start from there, gold has a lot of history, it is possible that due to these events similarities continue to arise in the movements.

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adzino
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January 31, 2020, 10:47:05 PM
 #75

Like in what sense are you wondering if the price of bitcoin moves like a gold or not? The price of bitcoin and other crypto currencies are extremely volatile. Within seconds the price of bitcoin and other cryptocurrencies can jump or fall down badly. But the price of gold is more stable compared to the price of crypto currencies. We don't see much price difference taking place within few seconds.
If you are saying that the price of bitcoin and gold follows each other, then I guess that is just  a coincidence. I see no reason for bitcoin to follow the price of gold.

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January 31, 2020, 10:53:40 PM
 #76

Like in what sense are you wondering if the price of bitcoin moves like a gold or not? The price of bitcoin and other crypto currencies are extremely volatile. Within seconds the price of bitcoin and other cryptocurrencies can jump or fall down badly. But the price of gold is more stable compared to the price of crypto currencies. We don't see much price difference taking place within few seconds.
If you are saying that the price of bitcoin and gold follows each other, then I guess that is just  a coincidence. I see no reason for bitcoin to follow the price of gold.
Bitcoin is bitcoin, it is not affected or follows any commodity or other currency in the world. Bitcoin has a very unique niche in its own way. it's just that many people who analogize it with gold, as something that is most valuable and potential to be invested, with a record of higher risk. In general, it is almost the same, it must be mined, the amount is limited, and because of its scarcity that prices tend to rise, but differ in physical form and volatility, as you explained, and bitcoin also tends to be riskier.

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January 31, 2020, 11:19:28 PM
 #77




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?

Bitcoin, pitched as "advanced gold" shares a considerable lot of indistinguishable qualities from the golden shaded past metal, however surpasses its advantages by coming up short on a physical impression requiring capacity. Bitcoin, as well, requires vault-like stockpiling to shield it from criminals, however it just ever takes up information.

Since the two offer such a large number of similar likenesses and advantages, it's not very astounding that the two resource types regularly show relationship in value developments.
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January 31, 2020, 11:58:48 PM
 #78

Not exactly but bitcoin and gold have a lot of similarity when it comes to investment because of supply and demand but as bitcoin movement is concern we could see the risk of investing in bitcoin for it is very risky to invest in bitcoin comparing it to investing in gold that is sure going to increases its market part in bitcoin for sure.
Gold is less volatile than of Bitcoin and that is the fact that Bitcoin can't be similar to whatever it looks like GOld has to be most especially when we are talking about a price trend. And maybe we can see a huge demand for Bitcoin compared to Gold. This basically because Bitcoin investment is more profitable than of Gold and mostly like people are getting interested in it. Though the risk is high but still many individuals will take the risk cause in their mind that they can generate much if they become successful and yet, it is justified to have a positive result if they could play it well.
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February 01, 2020, 05:01:54 AM
 #79




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?
yep, sure. in fact this happens because the crowd believes that bitcoin has the same value and functions as gold. In fact, gold is also a limited supply and so is bitcoin; Gold also has no one to control it, and so does bitcoin. The final stage is to wait for the crowd to accept bitcoin like gold and from there its price will increase even greater than gold. because when we buy gold we have to pay a pretty large fee and keep it indoors, we also have the possibility of theft. those are the disadvantages of Gold but for bitcoin it seems not. We can hold Bitcoin in the cold wallet and no hackers can gain access. Besides, trading is also easier when all traders in the world have the need to buy bitcoin at centralized exchanges. easy to hold, easy to trade and I believe that the future of bitcoin is brighter than gold.


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February 01, 2020, 07:01:15 AM
 #80

I have been following the Bitcoin prices for the last three years and I have investments in both cryptocurrency and bullion. And till now, I have not noticed any link between the exchange rates of Bitcoin and gold. And I don't think that any correlation exists, since these two are entirely different assets having very few similarities between them.

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