Experts told about the connection between the markets of bitcoin and gold

An inverse correlation between the price charts of bitcoin and gold found financial experts and traders: falling gold prices, the course of bitcoin growing, and Vice versa.

Most clearly this relationship can be traced in the last couple of weeks during the biggest since January of 2017 course correction bitcoin.

At the request of Daniel Marburger (Daniel Marburger), a Director of the company Coininvest involved in precious metals trading, January 16, has sold 30 kg of gold per bitcoin. Willing to exchange cryptocurrency precious metal filled up Coininvest of emails and phone calls.

According to a study conducted by expert financial portal Seeking Alpha, Scott MacDonald (Scot Macdonald), such communication takes place for some time, but became more prominent after the introduction of futures on bitcoin.

The analyst studied the price movement on bitcoin and found out that at the moment it has reached its bottom point and are ready to begin to rise. While the market of precious metals rose last week, shows a willingness to move into a bearish phase.

After the cryptocurrency of $19 000 and the launch of futures on bitcoin, the price of gold was at $1265. During the fall of the cryptocurrency market gold started to rise in price.

A similar situation took place in March and September 2017. According to the obtained findings, now McDonald recommends traders to buy bitcoin and get rid of the gold.

About the relationship between the cryptocurrency market and gold claims and Director of Goldcore (the company sells gold) mark O Byrne (Mark O Byrne). He said that cryptocurrency traders concerned about volatility in the market and are increasingly coming to the conclusion that trade bitcoin has a higher risk.

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