Bitcoin and correlations — Examining the relationship between BTC, gold and the Nasdaq

And if Bitcoin is more of a safe-haven possession, a connection to gold appears reasonable.Its important to keep in mind, however, that correlations can come and go. And when zooming out to bigger timeframes, it may be possible to rule out connections of any kind.Lets take a look at both of these correlations on an one-year basis and see if theres any merit to them.Bitcoin, gold and NASDAQ: 1 year correlation analysisYear-to-date, Bitcoin has acquired roughly 58%, rising from $16,600 at the start of the year to over $26,000 today. Safe-haven correlation or threat property correlation?
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Since that connection has broken down, however, there doesnt appear to be much related news coverage.Now a new story has actually taken the spotlight: that of Bitcoins connection to gold. And if Bitcoin is more of a safe-haven asset, a connection to gold seems reasonable.Its crucial to keep in mind, nevertheless, that correlations can go and come. And when zooming out to larger timeframes, it might be possible to rule out correlations of any kind.Lets analyze both of these connections on a 1 year basis and see if theres any benefit to them.Bitcoin, gold and NASDAQ: one-year connection analysisYear-to-date, Bitcoin has actually gained roughly 58%, increasing from $16,600 at the start of the year to over $26,000 today. At the start of the year, the correlation to gold was deeply unfavorable, while the connection to tech stocks was just below neutral. Safe-haven connection or threat asset connection?