There is a clear correlation between the Bitcoin
n the Dollar index
working in same direction being Gold
has the inverse relationship with both of them. As its clearly seen the as the Bitcoin
has no intrinsic value on its own but derives its value from the Arbitrage. Its just another commodity for the traders and investor to arbitrage against other asset classes. But Gold
its doesn't needs any regulatory approvals for the validations and certifications. Bictcoin chart is weak n it is in falling channel
and levels are mentioned and its going to retest the levels of 29000-30000 range sooner with kind of volatility
it is suffering from.