Summary
- It was reported that the correlation between Bitcoin and gold has hit its lowest level since last November.
- Bitcoin, unlike safe-haven assets like gold, has not risen amid trade war concerns.
- The correlation between Bitcoin and gold has decreased by 15.4% compared to mid-December.
The correlation between Bitcoin (BTC) and gold has hit its lowest level since last November.
On the 4th (local time), CoinDesk reported, "The correlation between Bitcoin and gold has reached its lowest point since November 14 last year," adding, "Unlike gold, a safe-haven asset, Bitcoin has not been able to rise amid trade war concerns."
According to TradingView data, the current correlation between Bitcoin and gold is 34, a 15.4% decrease compared to mid-December (40).
Meanwhile, gold has surged nearly 10% this year due to the trade war and the impact of the Chinese New Year, reaching an all-time high of $2,877 per ounce.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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