As gold climbed toward the psychological $1,500 mark, another speculative asset has also been staging a recovery. Bitcoin is well away from its historical peak; in fact, it’s below the recent June high. However, the two assets look to have been marching in lockstep over the past three months, a relative rarity. We noticed a similar phenomenon three years ago. At the time, U.K. voters had just made the surprise decision to exit the European Union. The pound sank and the rest of the world was left in a panic trying to figure out what it all meant. At the time, we were unconvinced that bitcoin had joined gold as a haven ... (full story)