THREAD

My thoughts on the correlations between $BTC, $GOLD and $DXY

Bitcoin has broke away from the correlation. Whilst the dollar and Gold have been ranging, Bitcoin has been on a bull run. What this indicates to me is that& #39;s where the money is being shifted towards, for now.

$GOLD

Ranging whilst BTC rallies. Not entirely bullish for Gold IMO.

This could very well start to move higher if BTC starts dropping off and eventually ranging. I& #39;m not too convinced as of yet that we see this.

$DXY

More correlated to Gold right now when comparing the 2. However, if BTC starts moving up again and the dollar continues lower, I think Gold either continues to range or moves lower.

Essentially what I& #39;m seeing now is a $BTC break away from the correlation which could indicate that if it continues moving higher, Gold would either continue ranging or move lower.

I don& #39;t see the 2 moving together from here on out. It& #39;s one or the other for me.

Correlations aren& #39;t always 1-1 and will occasionally drift apart from one another. Keep this in mind.