Here is the 6month chart of gold vs bitcoin. As you can see, its pretty correlated on a day to day basis. Gold is getting crushed by the strengthening of the dollar because the Fed's announcement of NO QE4 has sparked huge interest in dollars.
Many traders have pointed this correlation out in the past. In fact, many holders put their weights as equals! While I disagree with that, which could take a whole post, I cannot help but look at this chart and say: HEY! Which way is bitcoin going to go?
I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com/ibankbitcoins
Many traders have pointed this correlation out in the past. In fact, many holders put their weights as equals! While I disagree with that, which could take a whole post, I cannot help but look at this chart and say: HEY! Which way is bitcoin going to go?
I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com/ibankbitcoins
