Bitcoin Forum December 03, , Please login or register. Latest stable version of Bitcoin Core: April 14, , Request a signed message if you are associating with anyone claiming to be me. Mixing reinvented for your privacy Chip Mixer. Hero Member Offline Posts: Is bitcoin and crude oil anti-correlated trading pairs?
What is the correlation coefficient? Looking at the graph my guess would be something closer to 0 than to Buy bitcoins with cash from somebody near you: LocalBitcoins Join an anti -signature campaign: April 16, , So no one cares enough to provide any theories?
Well I'll just talk to myself each day then. Here is my theory for today: Because of this, miners had extra finances and instead of spending on mining, spent the extra on purchasing bitcoins. Still no takers, huh? So I shall continue then. Here is my theory for this day: In the finance world, it is well known that the gold price is currently too high to purchase reasonable amounts as a hedge for the future financial collapse.
If you look at the graph I provided in the OP, when oil began it's drop, BTC attempted and began to climb, meanwhile gold didn't move as much in comparison. Hero Member Offline Activity: My gut reaction is to go with the Theory 1. Almost makes perfect sense while the 2 theory would make sense if we saw a huge swing in btc price which did NOT happen. I'm assuming, of course, that if the financial market entered the bitcoin trades, they would make huge entry. The current bitc price would make sense only if a tiny segment of the world's financial professionals discovered bitcoin.
I don't see than as negatively correlated. At the moment the markets seem to be correlated with oil and commodities. Bitcoin as a risk off trade!! That is only at the moment though, the markets were previously lower when oil was higher. I would expect that bitcoin would correlate better with PMs long term. Oil does it's own thing. NUFCrichard on April 18, , New graph - couldn't get 3 years of data, only 2.
The only thing interesting to note, is that it is positive, till the last year, when then it splits to negative. It doesn't really look like Bitcoin and oil have a correlation, I think a lot of it just revolves around coincidences since the movements seem to be fairly erratic and there are only a few points where the values seem to have even some sort of correlation. It is possible some investors keep moving back and forth, but it doesn't seem like enough investors to show any major movements that occur in response to one or the other.
Real Estate Blockchain Platform.. Its just a co incidence i dont think there is anything to corelate this two markets. We cant rely upon this as this cant remain same if we look at pattern of larger period. Yakamoto on April 19, , Powered by SMF 1. December 03, , AgentofCoin Legendary Offline Activity: April 15, , April 17, , April 18, , April 19, , Yakamoto Legendary Offline Activity:More...