For many years Bitcoin is called “the digital gold”, and this year this opinion is very popular. Bitcoin seems to be a “safe haven” among altcoins, Bitcoin rallies while many alternatives are struggling to remain at least in positive price territory. 
# BTC as safe heaven?
Another idea is that with a new, future financial crisis, possible crash in stock markets and bond markets, too much debt, surging inflation, social tensions, etc., all “safe haven” assets can be much more valuable for investors than before. Like gold, silver, bonds – or BTC. 

Lately, first after the Federal reserve comments on interest rate cuts, then Donald Trump’s threats about more tariffs on Chinese goods, stock indexes were nose-diving. Gold jumped again, and so did also Bitcoin, surging from near 9,800 USD to 12,200 in less than a week. That is 25 percent, an impressive strength also in Bitcoin terms. 

*[![cryptocurrency BTCGOLDRENMIMBI.jpg](https://files.steempeak.com/file/steempeak/deathcross/P5LnSoKk-cryptocurrency20BTC-GOLD-RENMIMBI.jpg)
(Click to view in higher resolution. Chart courtesy of [Tradingview](https://www.tradingview.com))](https://i.imgsafe.org/96/96285ec7fd.jpeg)*

Gold went from 1420 USD to 1477, only four percent. That may seem tiny compared with Bitcoin but is significant in case of the yellow metal. Are gold and Bitcoin close friends, then? 

# Black Christmas
I would say, not obviously, or not always. Maybe sometimes. If we see a little further in the past we see different periods. In December, for example, stock markets fell, Bitcoin fell (to 3100 USD), but gold surged step by step. Bitcoin showed no sign to be a safe harbor, at the contrary. 

Another idea is that Bitcoin could be moving together with Chinese assets. I heard about this theory in 2013 or 2014 already. The red line in the chart is the USD/CNY (US dollar/Chinese yuan, or renminbi). It seems to me that this correlates more often with the Bitcoin price than gold does.

*[![cryptocurrency BTCSHANGHAI.jpg](https://files.steempeak.com/file/steempeak/deathcross/H4KD9GiS-cryptocurrency20BTC-SHANGHAI.jpg)
(Click to view in higher resolution. Chart courtesy of [Tradingview](https://www.tradingview.com))](https://i.imgsafe.org/96/96711df219.jpeg)*

# Who follows whom?
“Chart of the day”, I know, but I have a second picture again. I also drew a chart with the Shanghai Composite Chinese stocks index, and it also seems interesting. There was a big peak in the index just some weeks later than by Bitcoin in December 2018. This year, Shanghai Composite peaked in April, and Bitcoin in June. 

This time, BTC seems to follow the Chinese stock market. Although, in the last days, stocks fell and BTC jumped. I suppose Chinese investors have a great impact on cryptocurrency prices. (I see less resemblance to the S&P 500 USA-index.)

(And sometimes Litecoin is called the silver of cryptocurrencies, but about this, maybe, I will post another day.) 

### *The series “Chart Of The Day”*
*I started a series with the title “Chart Of The Day” because I see every day interesting things on the markets or in the news. Other parts here:*

___The last ones:___
* _[How Many Tokens Do We Have? Crazy](https://steemit.com/steem-engine/@deathcross/chart-of-the-day-how-many-tokens-do-we-have-crazy)_
* _[Which Token Fell 80 Percent In A Single Day?](https://steemit.com/steem-engine/@deathcross/charts-of-the-day-which-token-fell-80-percent-in-a-single-day)_
* _[How Did Altcoin Prices Perform In The Very Long Term?](https://steemit.com/investing/@deathcross/chart-of-the-day-how-did-altcoin-prices-perform-in-the-very-long-term)_


___Older ones:___
* _[Wow, Wow, How Overperforming!](https://steemit.com/steem/@deathcross/chart-of-the-day-wow-wow-how-overperforming)_
* _[Is Voice A Success?](https://steemit.com/voice/@deathcross/chart-of-the-day-is-voice-a-success)_
* _[We Need 14,403 Steem Blockchains More!](https://steemit.com/steem/@deathcross/chart-of-the-day-we-need-14-403-steem-blockchains-more)_
* _[How Unstable Stablecoins Can Be?](https://steemit.com/steem/@deathcross/chart-of-the-day-how-unstable-stablecoins-can-be)_
* _[Where Is The Chinese Miracle?](https://steemit.com/investing/@deathcross/chart-of-the-day-where-is-the-chinese-miracle)_
* _[Dominance On 2017-Level](https://steemit.com/investing/@deathcross/chart-of-the-day-dominance-on-2017-level)_
* _[Are Facebook Shareholders Ignoring Libra?](https://steemit.com/facebook/@deathcross/chart-of-the-day-are-facebook-shareholders-ignoring-libra)_
* _[Forbid USD, It Is Used For Drug Buying!](https://steemit.com/cryptocurrency/@deathcross/chart-of-the-day-forbid-usd-it-is-used-for-drug-buying)_
* _[What Was The Biggest Fall Today?](https://steemit.com/investing/@deathcross/chart-of-the-day-what-was-the-biggest-fall-today)_
* _[Is The Steem Inflation The Real Cause…?](https://steemit.com/steem/@deathcross/chart-of-the-day-is-the-steem-inflation-the-real-cause)_
* _[High Traffic Gives A Glimmer Of Hope](https://steemit.com/bitcoin/@deathcross/chart-of-the-day-high-traffic-gives-a-glimmer-of-hope)_
* _[Are Precious Metals Breaking Loose?](https://steemit.com/investing/@deathcross/chart-of-the-day-are-precious-metals-breaking-loose)_
* _[See This Authentic Dinosaur Struggling](https://steemit.com/investing/@deathcross/chart-of-the-day-see-this-authentic-dinosaur-struggling)_
* _[Steem Has Sooo Many Dapp Users](https://steemit.com/steem/@deathcross/chart-of-the-day-steem-has-sooo-many-dapp-users)_
* _[Do You Still Believe In Your Tokens?](https://steemit.com/investing/@deathcross/chart-of-the-day-do-you-still-believe-in-your-tokens)_