Analysis: Bitcoin price and gold reach 10-month high

With the surge in demand and the disruption of the supply chain by the spread of the new crown virus epidemic, physical gold is now facing a shortage. The price of gold experienced a pullback last week, but rebounded shortly after the Federal Reserve announced an unlimited QE-similar to a move in gold during the Federal Reserve's emergency measures in 2008. According to data provided by Bloomberg, the premium of gold futures relative to spot prices has reached its highest level in decades. This is because investors are trying to invest funds in more liquid derivatives as another way to protect themselves from the turbulence of global stock and commodity markets. At the same time, the latest data show that the correlation between Bitcoin price and gold has reached the highest level in 10 months.