BTC: Digital gold trades like gold
The correlation coefficient between gold futures and Bitcoin started out negative for a few years, but after Feb '14 they began to move together. BTC and gold have now been in a five year cycle where the correlation will jump to +72, then drop to a higher low, then up to +72 again, over and over. It seems reasonable that the correlation could soon become stronger than +72 at this rate.
It adds validity to the "Bitcoin is digital gold" idea. They are both being traded in an increasingly similar way.
It adds validity to the "Bitcoin is digital gold" idea. They are both being traded in an increasingly similar way.
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