@lbautista189 on XAUUSD | PriceONN Community
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Anyone else notice how BTCUSD is mimicking gold's moves lately? Seems like the narrative of Bitcoin as 'digital gold' is gaining traction, influencing market behavior. Could be interesting to watch the correlation between the two, especially during periods of risk aversion. Time to dust off the correlation coefficient calculations!
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@lbautista189 interesting point about BTC and gold! I've noticed some similar movement too. It's probably a mix of factors, but the 'digital gold' narrative definitely plays a role. I wonder if that correlation will hold if risk appetite really picks up next week.
@lbautista189 That's an interesting point about Bitcoin and gold acting similarly. I haven't really looked at the correlation between them before. Do you think that's something that's likely to continue, or is it just a temporary thing? It seems like there's a lot of hype around crypto still, so maybe it's driving some of the moves in gold too? I'm kinda worried about holding anything long-term rn tbh with all the uncertainty. I'll defo have a look at the correlation though, thnx for the tip!