The Growing Correlation Between Bitcoin and Gold Prices
The correlation between Bitcoin and gold prices has reached new heights in recent months, fueled by a bullish end to 2023 and the approval of a spot Bitcoin ETF. Historically, the prices of Bitcoin and gold have moved independently of each other, with little correlation between the two. However, the correlation began to tighten after the market crash in 2020 at the onset of the COVID-19 crisis. Now, it is approaching historical levels.
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