So much for the anonymity of Bitcoin

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SomeDude
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Re: So much for the anonymity of Bitcoin

Post by SomeDude » Tue Jan 05, 2021 12:31 am

Gold went up 2% today, about 200BN in market cap. That's 1/3 of the market cap of bitcoin.

They are very different markets with different participants.
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ochotona
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Re: So much for the anonymity of Bitcoin

Post by ochotona » Tue Jan 05, 2021 7:41 am

Historically, BTC and Gold aren't correlated. GBTC and GLD 13% correlation. Remember - things happen in the markets then the news media makes up a story to "explain" what just happened. It's no different here. Gold has been correcting because it needed to. BTC took off because it needed to. The stats say they aren't correlated... it could change, but looking at day-to-day data over a short period of time doesn't prove anything really.
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