Remember a couple weeks ago everyone was "selling gold to buy Bitcoin"?

[Visaria]

Down 30% from highs is not a nice down move? What would be? 50% down?

Two standard deviations is where “significant” starts in my mind. This way you normalize the idea of “big” between different assets.

Both of you are correct. It's simply a case of practical v statistical significance.

 

[Pekelo]

Bitcoin is realizing about 10-11% per day this year (160-180% per year).

Crypto math checks out!

 

[helgen_1]

As for correlation of anything crypto with gold - I’d venture it is zero and anything you find is spurious.

I disagree. Since the beginning of December it has been pretty clear. There is also a reason for it. It will attract some of the same players - think 'storage of value'.

Got to love differing opinions.

H.

 

[sle]

Since the beginning of December it has been pretty clear.

You are going to make an opinion regarding correlation based on a 20 day sample? That's bold

 

[SunTrader]

LOL cherry picking last few weeks. Oh boyee Gold broke $1300!!!!

"Only" needs to go up a little less than $700 to surpass its ATH from 7 friggen years ago.

Meanwhile blink and BTCUSD could be up (or down) $700 in an hour.

 

[contango321]

LOL cherry picking last few weeks. Oh boyee Gold broke $1300!!!!

"Only" needs to go up a little less than $700 to surpass its ATH from 7 friggen years ago.

Meanwhile blink and BTCUSD could be up (or down) $700 in an hour.

True. Point?

 

[SunTrader]

True. Point?

Figuratively one crawls, the other leaps. Why would anyone think they are correlated?

 

[Overnight]

They aren't correlated. Bitcoin is not a "safe haven". Gold is. When people wish to hedge against inflation and geopolitical risk, they are not going to put all their shit into bitcoin. They are going to head into gold, the standard-bearer for many millennia.

 

[SunTrader]

They aren't correlated...

That much you got right.

While gold has been around since forever .. very little time was it "money". Mostly a shiny trinket like sea shells and rocks.

Good luck with lugging gold brick to Wallyworld to get a loaf of bread when the shit hits the fan.

 

[Overnight]

That much you got right.

While gold has been around since forever .. very little time was it "money". Mostly a shiny trinket like sea shells and rocks.

Good luck with lugging gold brick to Wallyworld to get a loaf of bread when the shit hits the fan.

It is a store of value. Good luck accessing your wallets after the EMP hits and wipes all electronic data from the networks, your own computers and all other electronic devices.

To be honest, when the shit hits the fan, the only true currency will be food, water and ammunition. Let's not kid ourselves here.