Bitcoin has been called ‘digital gold’, but does this meant a dual markets act similarly?
This attribute has been tip of mind for attention observers for some time, as media coverage has mostly championed a thought bitcoin is a new ‘safe haven‘ asset.
But while some marketplace observers have claimed there is a association between bitcoin and gold, members of a digital banking trade village disagree. Further, some have collected information they trust shows this attribute is speculative at best.
Though bitcoin and bullion have frequently displayed a important association during times of macroeconomic crisis, this attribute has mostly damaged down once marketplace conditions lapse to normalcy.
Tim Enneking, authority of cryptocurrency investment manager EAM, for example, told CoinDesk:
“There is indeed really small association when we cause out geopolitical events that gathering prices for all adult or down.”
Gaining suggestive discernment into a attribute between bitcoin and bullion requires looking into marketplace correlation, he asserted.
“When altogether marketplace association is high, so is a association for this pair, during slightest recently,” he stated. “When altogether association is low, so is a association between these two.”
Petar Zivkovkski, executive of operations for bitcoin trade height Whaleclub, went a step further,