gold

When Gold is taking a shit, how does Bitcoin perform?

Here is the 6month chart of gold vs bitcoin. As you can see, its pretty correlated on a day to day basis. Gold is getting crushed by the strengthening of the dollar because the Fed's announcement of NO QE4 has sparked huge interest in dollars. 

Many traders have pointed this correlation out in the past. In fact, many holders put their weights as equals! While I disagree with that, which could take a whole post, I cannot help but look at this chart and say: HEY! Which way is bitcoin going to go?

The S&P500, Gold and Bitcoin. Bitcoin is not gold

Taking a look at the S&P500, it is down big. Gold is up in the short term from the panic. When market crashes this hard, it is not good for anyone, including bitcoin.

Just wait until China's SSE opens later today, I predict bloodshed. By then, we will see how bitcoin *weather the ~~storm~~ tornado". People talk about bitcoin being the next gold. It didn't live up to my expectation today, gold up, bitcoin flat. There is a lot of fear on the market with VIX up 23%. Today, especially today ,why people prefer gold over btc?

On a side note, I shorted TWTR today at 49.

Comparsion between gold and Bitcoin?

This is getting crazy. Are we seriously failing to capture any of gold's market cap? I heard a few radio commercials from Cash into Coins marketing BTC to gold bugs, but that was months ago. Are gold bugs just going to reject bitcoin? ...

Gold, 5000 years. Bitcoin 4. Not a comparison because Bitcoin never stood the test of time. I am not saying it can't, but I am saying those two are different from that perspective.