Are Bitcoin [BTC] and Gold Prices Correlated?

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Bitcoin [BTC] dropped from 13,000 levels from yesterday to trade below $11,800. The bulls failed to break the price above new yearly highs near $14,000.

The price of Bitcoin [BTC] at 4: 45 hours UTC on 11th July 2019 is $11,430. It is trading 11.72% lower on a daily scale.

BTC/USD 1-Day Chart on Bitstamp (TradingView)

On the other hand, Gold rose by around 2% from $1395 to record a high of $1427. The rise can be attributed to Fed’s rate cut view in the US. Peter…

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