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.
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.
Reply
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
Reply
sraosha PRO LastBattle
Yes, of course BTC is not a root cause per se, just seems to react more quickly.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out