- Gold and bitcoin have seen a negative correlation recently, with gold rising 7.5% during bitcoin’s recent price decline.
- Bitcoin, gold, and other commodities derive much of their value from limited supply and growing consumer demand during periods of increased inflation and government regulation fears.
- In order to be truly competitive with gold as a “safe haven” asset, bitcoin would have to be “safe;” and the extremely speculative nature of the asset combined with now 100% volatility has shown the leading crypto is far from being considered safe.
For further details see:
The Gold-Bitcoin Correlation (Or Lack Thereof)