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Bitcoin Bolsters Claim as a Haven With Rally Topping Gold’s

  • Sixty-day correlation to gold flips from negative to positive
  • Short-term correlation had dropped during the fourth quarter
A Bitcoin shop in Hong Kong.

Photographer: Philippe Lopez/AFP via Getty Images

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Bitcoin’s claim for being digital gold appears to have another piece of evidence in its corner.

In a day where global stocks plunged on concerns over the impact of the deadly coronavirus, the largest cryptocurrency gained as much as 5.8% while gold rose as much as 1.1%.