Agreed... I don't really understand why it moves opposite of gold either. Does that mean that bitcoin is considered a high risk asset instead of a safety asset?
I would say yes, with the volatility of bitcoin, at this stage in its life, it is considered a high risk asset. It doesn't have the historical precedent to be considered a safe asset, like other commodities
Is that just because gold is strongly anti-correlated to the dollar? I don't know for sure, just speculating.