CandleFocus Standard measure of bitcoin-gold correlation goes to zero
2024-10-18
Author: Content Editor
The correlation between Bitcoin and gold has decreased significantly, with Bitcoin currently trading independently of gold. While gold is at an all-time high, Bitcoin is 6% lower than its peak. The standard correlation value between the two assets has dropped from over 50% to nearly 0. The average returns of gold have almost no impact on the average returns of Bitcoin, indicating a lack of correlation between the two. This challenges the notion that Bitcoin is behaving like digital gold.
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