Bitcoin-Gold Correlation Hits 6-Year High: What Is Going On?
Bitcoin is trading more like digital gold as BTC-gold correlation hits a six-year high, while stock correlation falls amid macroeconomic and currency
Bitcoin is moving up and down together with gold more than it has in six years, which means people are thinking of it as a safe place to put money during uncertain times. When you see Bitcoin acting like gold, it hints that investors are worried about the bigger economy or money values changing.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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