Gold and BTC correlation

١٣ أكتوبر

We can compare many charts trying to find what we want to see!
That's why I don't like patterns and correlations between assets! As we can see in the example of SPX and Bitcoin, sometimes they correlate and sometimes they go in completely different directions! We can't compare the world in 2008 and the world in 2024, there were so many geopolitical, political, natural, medical events and many other things that change the world every year! That's why I'm for analyzing the current situation in the world! I'm more than sure that in 2034 people will try to find some patterns comparing 2034 with 2024 and they will find what they are looking for! Whoever wants to see bearish patterns will find a hundred confirmations for the coming fall, whoever is waiting for growth will find a hundred confirmations for growth! And they will all look logical!

For comparison Gold and Bitcoin monthly charts! 2 times in the entire history of Bitcoin, when gold set its historical maximum and began to correct in 2011, Bitcoin needed 19 months to form a new historical maximum, rising from 4.30 to 1177
The second time this happened in August 2020, gold set a new maximum and went into correction, Bitcoin needed 8 months from August 2020 to set a new historical maximum from 10600 to 64800!

Therefore, if you need to find positive in the market, you will find it, if you sit outside the market and wait for a correction and the price is cheaper, you will find negative! But it is better to just be in the moment

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✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.

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