Bitcoin Often Mimics Gold: Here's the Historical Correlation

IconCryptoNewsTerminal Staff13 Aug, 2024

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Bitcoin Often Mimics Gold: Here's the Historical Correlation

The cryptocurrency market and gold have a correlated relationship. Crypto analyst Charles Edwards, founder of Capriole Investments, emphasized that Bitcoin tends to follow the new trend in gold roughly three months later. On-chain analyst William Clemente added that if Bitcoin were to follow a pattern similar to that of the Gold ETF in 2004, it could experience a similar price surge. ```