In theory, if bitcoin is like digital gold, the two assets would be somewhat correlated, but that just isn’t the case when we look at the bitcoin price vs the gold price. The two assets aren’t really even negatively correlated because they move based on completely different factors. Traditionally, gold is a safe-haven asset, while bitcoin is a highly volatile and speculative asset. On Tuesday, the bitcoin price hit its highest level in two months, breaking past its resistance level of around $8,600 to settle above $8,800. Over the last 24 hours or so, bitcoin has climbed by about 8%, holding just above levels where ... (full story)