Bitcoin Following Gold's Steps With One Week Lag
• Analysts observe that since April 2022, Bitcoin's price movements have been matching gold's with about a 1 week lag - if gold moves up or down, Bitcoin tends to follow the same pattern a week later.
• The timing of turns and directionality of price movements match between gold and Bitcoin, but not the magnitudes of the changes.
• Recent analysis shows gold prices lead Bitcoin's by around 1 week - gold's "dance steps" are mirrored in Bitcoin a week later.
• Bitcoin's lateral price movement in March 2024 closely followed similar activity in gold prices the prior week - now gold's upward breakout suggests Bitcoin will surge to new highs within a week.
• Analysts don't know why this gold-Bitcoin price correlation started working in April 2022 when it didn't previously.