WHY IS THE VALUE OF GOLD POSITIVELY CORRELATED WITH VALUE OF BITCOIN PURELY FROM MARKET POINT OF VIEW?
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In this world where indiscriminate printing of money all actoss the globe has taken place, concerns are raising in all corners as to whether these liabilities will be honoured by these printers.
There is smooth shift in asset allocation by central banks as regards their holding of forex reserves….away from USD and into Gold anf to some extent even in this digital gold ie bitcoin.
From a purely market perspective, both Gold and Bitcoin are slated to rise astronomically in the short to medium term as other assey classes specially equity and base metals are slated to collapse.
Requesting someone to share technical perspective…charts…on the same carrying out a comparative analysis.
Hi,
From macro economics point of view value of gold rises whenever we are in low interest rate environment which is the case now and it is expected to continue for few years as world starting recovery from Covid.
In low interest rate regime gold become the safe investment heaven as Bond loose it’s sine
With this currency also becomes cheap as their is abundant supply of money by government.
Given bitcoin is an alternative mode of exchange and some believe it to be future money it is going upwards.
However I beleive it is still in nascent stage and highly speculative in nature