TraderEye Market View: There is room for only one - the negative correlation between Gold and Bitcoin

Thursday, May 2, 2024

There is room for only one - the negative correlation between Gold and Bitcoin

The world of correlations between different products is used as a central tool in trading in the professional financial markets, identifying the correlation makes it possible to get quality financial thoughts. In the research regarding the correlation between gold and bitcoin there is an interesting situation of negative correlation, is bitcoin the alternative safe haven for gold ?

Attached is an hourly graph showing a negative correlation between gold and bitcoin:

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