$BTC

When gold is no longer 'King', Bitcoin is gradually changing all the rules in the financial world. According to Lyn Alden, a renowned macro analyst, those who are passionate about precious metals can purchase an amount of Bitcoin equivalent to about 5% of the gold they hold. This is not a call to abandon gold, but rather a wise risk management strategy in a context where Bitcoin is increasingly asserting its position in the global asset market ¹.

The correlation between gold and Bitcoin prices is at a high not seen in over 5 years. Both of these assets reached new highs in early 2024, and the correlation between them reinforces the view of some investors that Bitcoin and gold are becoming safe havens in the context of ongoing economic and political instability globally ².

However, there are also views that the price increase stories between gold and Bitcoin are completely different. Bitcoin's rise is driven by momentum from ETF funds, while the rise in gold prices is due to significant buying from central banks in China, India, and emerging economies ².

In summary, Bitcoin is gradually changing all the rules in the financial world, and the correlation between gold and Bitcoin prices is at a high not seen in over 5 years. However, it is also necessary to consider the differing viewpoints on the price increase story between these two assets.