Data: The correlation between gold and bitcoin has increased this year, and the correlation between altcoin and bitcoin has become weaker.

According to Longhash, it is well known that Bitcoin is often referred to as "digital gold" because of its non-political nature of currency policies and transactions. But historical data from Coin Metrics shows that there has been virtually no correlation between the two assets over the past five years. The price of gold and bitcoin often does not fluctuate simultaneously. However, this year's data shows that the correlation between gold and bitcoin prices has increased. At the same time, the relationship between the altcoin and bitcoin is getting weaker. It should be noted that although the correlation between Bitcoin and gold has increased, it has only risen from a “very weak” correlation to a “weak” correlation; at the same time, although the correlation between Bitcoin and altcoin has declined. However, the correlation between Bitcoin and Ethereum, Bitcoin Cash and Litecoin has only dropped from “very strong” to “strong”. It is worth noting that the correlation between Bitcoin and the altcoin has reached a record high earlier this year. From April 1st to July 1st, bitcoin prices have risen far more than almost all major altcoins, and this strong correlation has weakened.