According to BlockBeats, on April 28th, CoinDesk analyst James Van Straten stated that as of now, Bitcoin has fallen by approximately 1.5% since December 31st of last year, performing between gold, which has risen by 24%, and the Nasdaq 100 index, which has fallen by over 7%. Therefore, the statement that Bitcoin is positioned as a leveraged technology stock or digital gold is slightly biased towards the view of digital gold, but only so.
By analyzing the correlation coefficient of Bitcoin's 30 day moving average, the correlation with gold is currently strong at 0.70, while the correlation with the Nasdaq 100 index is weak at 0.53. This indicates that Bitcoin's performance is closer to the trend of gold, rather than the performance of technology stocks. The range of values for the correlation coefficient is between 1 (strong positive correlation) and -1 (strong negative correlation).
Last week, the price of Bitcoin rose by 10%, marking the strongest performance since the significant price increase following Trump's presidential election victory on November 17th last year. Meanwhile, Trump's tariff policies continue to exacerbate economic uncertainty.
