It's now been more than a week since the price of bitcoin hit a two year low at around 15 600 and price charts suggest a drop down to 13 000 is still possible Separately gold backed cryptocurrencies like PAXG and XAUT have performed positively in the past seven days decoupling from the broader market [...]
As the U.S. Federal Reserve continues to raise interest rates to combat soaring inflation, commodities investor and Factor Trading founder Peter Brandt discusses how times of rising yields impact gold's price. "The Fed knows inflation is a killer and they need to address it."
Peter Brandt, Factor Trading Founder and CEO, shares his predictions for bitcoin (BTC), gold and the state of global finance amid the latest crypto market downturn, breaking down price levels and trends to watch.
Bitcoin’s correlation with gold hits its highest level in over a year. Opimas CEO Octavio Marenzi says he’s “not surprised” by this correlation, because “the arguments of buying either one are very similar” in this market. But, he adds that this correlation won’t be permanent.
Bitcoin (BTC) has yet to find inspiration in what has historically been a strong month, trading flat at $19,300. Opimas CEO and founder Octavio Marenzi discusses his crypto outlook ahead of the CPI report this week. Plus, insights into the correlation between bitcoin and gold.
Last week, the 30-day correlation between gold and bitcoin (BTC) reached over 0.3, its highest in over a year, even as cryptocurrencies decoupled from equities, according to Kaiko. The 30-day correlation between gold and bitcoin has ranged between positive and negative 0.2 since late last year.