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Analysis Opinion

Bitcoin (BTC) – gold is like gold. Digital though

The fact that Bitcoin is digital gold is believed by not only crypto community enthusiasts, but also by many skeptics now. Historical charts also support this conclusion.

In fact, until 2016, the cryptocurrency market did not exist as such. But as soon as it appeared, Bitcoin immediately began to be compared with gold, and it is no coincidence. Quotes correlation speaks for itself. (Data on metallic gold taken from https://www.moneymetals.com/precious-metals-charts/gold-price)

And if you add an analysis of the behavior of the dollar in connection with gold, then everything falls into place.

Gold serves as a haven in times of dollar weakness and falling markets. Conversely, gold falls when markets and the dollar rise. Bitcoin now intends to be a safe haven too. And quite successfully.

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