No, they are not.

This is the same speculation as stocks and bitcoin. Whenever the two have good and bad effects, the other is sometimes going with the flow or doing the opposite. That’s the correlation that many have been speaking but in all understanding, they are not connected.

We seem to compare them because these two are the hottest assets that we have in the world. But if ever bitcoin moves and the other plunges, there’s no connection to it. That’s the only typical market that we see.

I believed that every market globally is connected to each other including Gold. We have seen the negative effect of Covid-19 in March, all of them went nose diving. But there are also proponents that there are no correlation specially in the last couple of months wherein bitcoin was really on a super fast rally.