🔈Bitcoin and Gold Correlation
Gold is reaching new all-time highs on a daily basis. Historically, gold tends to outperform and rally strongly following U.S. interest rate cuts and post-election periods. With the Federal Reserve expected to cut interest rates and the U.S. elections approaching in November, gold’s upward momentum is likely to continue.
Given the established correlation between Bitcoin and gold, it’s reasonable to expect that Bitcoin will follow gold’s rally in due course. Additionally, Bitcoin’s most bullish quarter to come after the Bitcoin halving and in this quarter we will see an uptrend in the Bitcoin and Crypto market.
In conclusion, this month may represent the last optimal opportunity to accumulate your favorite altcoins and implement a dollar-cost averaging (DCA) strategy before Bitcoin and the broader crypto market reach new all-time highs. Observing gold’s performance, we can anticipate a similar rally in Bitcoin soon.
You can now see this pattern in the charts. In 2020-2021, Bitcoin followed Gold’s rally closely. While Gold has recently hit a new all-time high, Bitcoin hasn’t started to follow yet. However, it’s expected that Bitcoin will soon track Gold’s movement and reach new all-time highs. Since Gold’s price is likely to continue rising, Bitcoin is also expected to be bullish in the coming months, potentially setting new all-time highs, just like Gold.