Bitcoin and gold are moving in step.

3D rendered illustration of gold bars and golden currency symbols. Stock exchange and banking concept.

In the last month, the cost of the main digital coin was moving along practically the same trajectory as the price of the precious metal. This summer, the correlation of Bitcoin and gold peaked from 2016, which suggests that the cryptocurrency is starting to respond to external factors, said eToro analyst Mati Grispen. In his opinion, the growth of digital coins and precious metals was caused by the Fed policy, in particular, the emergence of information about plans to reduce the base rate.
In June, investments grew not only in gold, but also in Bitcoin, which may indicate that investors are using a new way to save their money. Dynamics shows that the cryptocurrency has begun to integrate into the global financial system.

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