Gold slides below $1,900, registers lowest correlation with Bitcoin in 2023

2023-6-29 16:43

Quick Take

The June 28 report of the U.S. GDP exceeding expectations has led to notable movements in the economic landscape. In the commodities market, the gold price has dipped below the $1,900 mark, reflecting investor sentiment influenced by robust economic performance.

Bitcoin, however, is charting a different course, climbing higher and surpassing the $30,600 level. This divergence between the two often-compared asset classes has resulted in a significant drop in their correlation.

Currently, the Bitcoin-gold correlation stands at -0.89, marking its lowest point for both the year and the trailing one-year timeframe. This indicates that as gold prices decline, Bitcoin prices are trending in the opposite direction, reinforcing their independent market dynamics.

BTC/Gold: (Source: TradingView)

The post Gold slides below $1,900, registers lowest correlation with Bitcoin in 2023 appeared first on CryptoSlate.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Golos Gold (GBG) на Currencies.ru

$ 0.0077733 (-2.90%)
Объем 24H $0
Изменеия 24h: -17.51 %, 7d: -17.17 %
Cегодня L: $0.0077733 - H: $0.0095975
Капитализация $99.238k Rank 999999
Доступно / Всего 12.767m GBG

economic gold 900 below market price commodities

Источник: cryptoslate.com

economic gold → Результатов: 126


JPMorgan Analysts Call for $146,000 Long-Term Bitcoin Price Target

With the increased institutional adoption of Bitcoin due to worldwide economic and social factors, the leading cryptocurrency can no longer be ignored. According to JPMorgan analysts via Bloomberg, gold may continue to lose market share: “Bitcoin may have the potential for substantial further gains over the long term as it competes with gold for investment … Continued The post JPMorgan Analysts Call for $146,000 Long-Term Bitcoin Price Target appeared first on BeInCrypto.

2021-1-6 16:36


Фото:

Trumping Gold: Bitcoin Continues to Thrive in 2020 Despite Increased Volatility

This year has been unexpectedly transformed by the Covid-19 pandemic, which turned the conventional stream of economy upside down. While the economic projections before the pandemic were mostly positive, the whole focus now sprawls on how to recuperate from the loop formed by the crisis that has gripped the entire world. Bitcoin, the OG among […]

2020-6-29 22:47


Фото:

Best-selling Author who Predicts $75,000 Bitcoin advises people to “Get Bitcoin”

Rich Dad, Poor Dad author, Robert Kiyosaki, once again advocates buying Bitcoin: saying it is how to “save yourself” from economic collapse. Robert Kiyosaki, the author of bestseller ‘Rich Dad, Poor Dad’ has doubled down on his view that Bitcoin, alongside Gold and Silver, is what people need to buy to hedge against an impending […] The post Best-selling Author who Predicts $75,000 Bitcoin advises people to “Get Bitcoin” appeared first on Coinjournal.

2020-5-21 15:56


Фото:

Fed Pledges Additional Stimulus, Adding Fuel to Bitcoin and Gold’s Momentum

As the United States Fed prepares to issue additional stimulus and economic relief efforts, assets like Bitcoin and Gold are gearing up for yet another leg up. How will the latest move to save the economy from a devastating depression impact these two, scarce, safe-haven assets in the days ahead? Federal Reserve Delivers Somber News About Economy, Pledges More Stimulus If Necessary This morning, Federal Reserve Chairman addressed the world via a webcast and revealed […]

2020-5-13 19:55


Фото:

Dollar Vigilante Founder Talks Covid-19 and Economic Crisis: ‘The Modern Financial System Is at the End of It’s Rope’

Jeff Berwick is an entrepreneur with a lot to say these days and he’s released a number of videos discussing the coronavirus pandemic and the government-induced lockdowns. Berwick is the founder of The Dollar Vigilante, an anarcho-capitalist media outlet focusing on gold, silver, mining stocks, cryptocurrencies, and offshore banking.

2020-5-7 16:55


Фото:

Mike Novogratz: ‘Bitcoin, Gold Are Setting Themselves Up for Multi-Year Bull Market’ – Part 2 

Galaxy Digital CEO Mike Novogratz recently hosted a webcast entitled, “Got Gold? Add Bitcoin,” the first part of which we covered in a previous article. While the first installment addressed the economic fallout from COVID-19, this part will focus on the role of what Novogratz describes as inflation hedges during the economic recession, in particular […] The post Mike Novogratz: ‘Bitcoin, Gold Are Setting Themselves Up for Multi-Year Bull Market’ – Part 2  appeared first on BeInCrypto.

2020-5-1 23:15


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

US Bitcoin payments are getting real: Retail rails could push $2M a day on-chain

Crypto retail checkouts now have two levers that can move quickly, merchant rails that reduce processing cost, and consumer apps that toggle on crypto buying and spending. Walmart’s OnePay sits at the intersection of both, as a recent Zero Hash partnership allows the app to support Bitcoin and Ethereum trading, hosted wallets, peer-to-peer transfers, and […] The post US Bitcoin payments are getting real: Retail rails could push $2M a day on-chain appeared first on CryptoSlate.

HSBC to launch custody service for tokenized securities

Banking giant HSBC is set to introduce digital asset custody services for tokenized securities such as bonds on the blockchain. The bank expects to go live with the service in 2024. The service is geared toward institutional investors and will continue expanding the lender’s offerings in the digital asset realm.

Polygon adds Google Cloud to its validator set

Polygon Labs announced on Sept. 29 that it has added Google Cloud to the decentralized group of validators powering its proof-of-stake Network. Polygon said in its statement that Google Cloud is now among more than 100 validators who secure the Polygon PoS Network, a network that originally operated under the name Matic Network and which […] The post Polygon adds Google Cloud to its validator set appeared first on CryptoSlate.