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Tim Culpan

Bitcoin Is Dancing in Tandem With Gold Again

Synchronized rallies in the digital currency and the precious metal don’t appear random.

Digital gold?

Digital gold?

Photographer: Chris Ratcliffe/Bloomberg

As gold climbed toward the psychological $1,500 mark, another speculative asset has also been staging a recovery. 

Bitcoin is well away from its historical peak; in fact, it’s below the recent June high. However, the two assets look to have been marching in lockstep over the past three months, a relative rarity.