Gold And Bitcoin: Two Different Trends

Bitcoin Correlations Report, October 2024

The Paradox: Two Hard Money Assets, Different Behaviours

Bitcoin and gold are both classified as hard money. They're often seen as competitors. Yet their price actions look completely different.

For most of this year, gold has had the risk-adjusted advantage. But this could change in Bitcoin's favour.

Let's dive in.

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Gold And Bitcoin: Two Different Trends

The Takeaway

Bitcoin and gold, both seen as hard money, show surprisingly different behaviours. Recent data reveals Bitcoin correlates more with stocks than gold. 

The key driver? Central bank policies. 

During monetary expansion, Bitcoin has outperformed both gold and stocks. This dynamic is key, given the likely stronger pace of future monetary expansion.

No Clear Relation Between Bitcoin And Gold