Relations between Bitcoin and gold recently were under the scrutiny of market analysts and the media, as many intriguing comparison cryptocurrency a safe haven in times of severe crises raging and collapsing stock markets - investors are seeking a safe haven.
Bitcoin has repeatedly proclaimed gold 2.0, but does this mean that both of these markets are behaving in a similar way? Unlike other investments, Bitcoin has some exciting features. With its scarce nature and the free market, in Bitcoin has the potential for a significant increase in cost. In addition, since the volatility (volatility) price decreased slightly, down drawdowns occur much less frequently.
Despite the fact that some analysts see a link between the movements of gold and exchange Bitcoins, community representatives kriptovalyutnogo repudiate such ties. Nevertheless, certain similarities in the nature and behavior of these substances are present: as gold, Bitcoin easily be divided into smaller parts, which retain the properties of the whole (uniform), the number is clearly defined and limited volume growth predictable and depends to some quite factors other than the central bank's decision.
Bitcoin and gold has repeatedly demonstrated a certain interdependence in times of macroeconomic collapse, but after the normalization of the situation, this relationship is losing its relevance.
Petar Zhivkovsky, head of the analytical and trading platform Whaleclub believes that due to the fact that the history of Bitcoin has only a few years, any statistical findings do early. However, there is another view, pointing not only to exist, but also on the development of this communication.
Analysis of the correlation of gold and Bitcoin
Undoubtedly, fluctuations in gold and Bitcoin prices can be interpreted in different ways, but some of the history of their oscillations will not hurt, in order to better inform.
Analysis of historical data over the past few years, the company implemented ARK Invest and, in particular, researcher Chris Burniske confirm the existence of a certain relationship, however, is not clearly marked:
Two random variables are called correlated if the correlation time (or correlation coefficient) is different from zero; and called uncorrelated variables, if the correlation time is zero.
This chart is a summary of the data correlation of gold and Bitcoin, which repeat each other (modifies each other) patterns were positive correlated, with a coefficient greater than zero.
On average, the correlation coefficient for the entire study period was 0.14, which characterizes the relationship neyarkovyrazhennuyu. When the coefficient of 1, their schedules have demonstrated a close relationship, for 0 - no connection could not be traced at all. Since 0.14 is closer to 0 than to 1, then talk about a clear pattern is does not make sense.
Over the past years, since June 2014 the correlation of the two trends were mostly negative, but at some point the index reached 0.20, as if reminding about its existence.
In the column on the website NASDAQ Tile Martin talks about a possible link between gold prices and the dynamics of Bitcoin, "In the past, gold rose in price during the financial crises. However, during the last fall on the Chinese stock exchange shares of the Eurozone and the collapse of the price of gold fell first. The price of Bitcoin has grown. This gives grounds to assume that the Bitcoin is gradually replacing the gold. "
This Tile registered growth of virtual currency values. According Tile, is investing in Bitcoin can not fully protect the savings, "but now enough data to buy Bitcoins little before the next crisis." Martin Tile is an experienced broker who for years traded stocks on various US exchanges. In early 2015 Tile one of the first analysts predicted the relative stabilization of the exchange rate Bitcoins.
The size of the market dynamics, different view
Confirming is that basically the artistic value of a metaphor about Gold 2.0, the graphs show a very approximate matching, however, some experts, such as the head of the B2C2 Max Bunen, rightly point out that the young market may not behave the same way as mature.
While others, such as Petar Zhivkovski suggest that there is no connection at all, and have a tremendous influence of the Chinese market, a strong impact on Bitcoin and gold. So, many fall in the precious metals market are taking place under the influence of growth in the value of shares of Chinese companies. dollar change in a big way also causes fluctuations in the precious metals market, the impact of which is reflected again in the gold price.
In general, so far only clearly understand what Bitcoin, like gold, can be used and is already used as a hedge against economic uncertainty, in order to hedge the financial turmoil (just look at the growth rate kriptovalyutnyh deposits in Argentina, Brazil, Russia, where despite some bans people prefer digital money melting at Fiat eyes.
Since banks and governments do not have a direct impact on cryptocurrency official markets directly can not affect it. In addition to gold, Bitcoin is the only means of preserving value, the value of which has increased significantly since 2009.
But more importantly, you do not need a broker to trade Bitcoins. Stakeholders acquire and sell them through online exchanges and exchangers or by p2p-commerce. Users have full control over your money at any time.
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