sraosha

Bitcoin leading the breakout of XAG and XAU

BITSTAMP:BTCUSD   Bitcoin / Dollar
To me this looks like BTC was leading the recent breakout; Gold             and Silver             following roughly a day later. Have to check if this happened in the past, but this could make BTC a 'market maker' of some sort, or at least an indicator - since arguably BTC traders might be more flexible and quicker to adapt.
LastBattle
2 years ago
I think it has more to do with the pull back of the dollar, affecting BTC, silver and gold. The movement of BTC to gold/silver definitely is similar
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sraosha LastBattle
2 years ago
Yes, of course BTC is not a root cause per se, just seems to react more quickly.
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venzen
2 years ago
Yes, BTC traders seem quicker to respond and BTC does not close over the weekend (regardless, Gold still took several hours to reach the low on Monday). Seeing the Light that Bitcoin is the future, must mean that Bitcoin traders are somehow a little bit sharper upstairs than the rest! Jokes aside, Ultimately, Gold and Silver are in different wave degrees than Bitcoin so it may be that they never correlate neatly but some correlation will probably be found. It's very interesting.
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