I've been fascinated that the price of Bitcoin was recently hovering at about 3 times the price of Gold (before the recent set back).
And now that Bitcoin seems at risk of dying, I'm wondering about its value in relation to its characteristics.
So I decided to compare Bitcoin against Gold. I generated the above based only on my knowledge.
I can't say that everything on this is 100% correct, or that my choice of words is lends to perfect accuracy.
Most of the parameters and qualities of each are broadly correct, and for sure there will be pockets of exceptions.
I'd be delighted to hear what others think about all this. Add any parameters I may have missed, in comments section.
For the avoidance of doubt, I have not drawn any conclusions on which one is better. No conclusions are implied. This is not an encouragement to buy or sell cryptocurrencies of any kind.
This is not my analysis, this RIZK nicknamed colleague. The pic is simple but well illustrates that a third fractal can be created. That's why I'm also thinking that I'm buying bitcoins at 1600 usd. I think a third fractal starts with the real rise.
meszaros
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It's a great pleasure to always read because these comments are very interesting and useful. As far as its content is concerned, I did not make a longer-term analysis, but I'm expecting the BTCUSD 1600-1800 usd. From there I expect a fractal of another impulse. Though it's early and it may look like big bullshit, but if such a fractal comes into being, it can have a peak of $ 100,000. At this point I will not say this in an analysis :)
Captain_Walker
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@meszaros, Great stuff. I'm just doing my common sense stuff. Value is linked to utility, risk and so many other things. I'm of course thinking about Gold, the standard for hundreds of years - and what possibly went wrong in killing the 'Gold standard'. Gold is as old as the earth, or possibly the universe.
Now we have an 'electronic gold' that is rather troublesome but finding its feet in utility. So evaluating the utility of cryptos for the future at a 'conscious' level. I also do a thing called 'unconscious processing' - not yet heard of in 'trading circles'. LOL. For those familiar with brain anatomy, I've put it in the thalamus. :)) May take some time, cuz I don't have control over my CPU. OMG. Have I kerfuffled 'everybody'? :))
Felix000
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Here is what I see if you do monthly for: S&P; Nikkei225; and DAX you will notice since 1990 for the big crash the Nikkei always broke the 40 MA first and then the domino effect S&P then DAX. Now what is happening DAX has broken it first - Eurozone and Brexit worries obviously. No big deal since 1990 when DAX goes first - didn't bother S&P much. Then again Germany and America were in focus 1987 and all markets crashed together - I think there was a dispute or problem with the direction of German and American interest rates which caused it. See how bitcoin is dropping in unison with the DAX and how Gold is going up on worries (I blacked out one of the coloured bars for each example to better illustate what I mean)
@Captain_Walker,
Felix000
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Here is some fun stuff on bitcoin have not published it and probably won't as not that cool by my standards. These Fibs could result in last leg down and them I'm waiting for a signal to give us a santa rally. Hope brexit or something else does not interfere tradingview.com/x/F6bVYkmN/@Captain_Walker,
Felix000
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Chart did not show up some bug may try again@Captain_Walker,
Felix000
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Here we go once more if doesn't work I'll let it go @Captain_Walker,
Captain_Walker
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@Felix000, Good observations. In a 'doomsday scenario' - in a highly electronic world compared to the the 1970s or even 2008, traditionalists may discover a reality, that they cannot 'email' their Gold anywhere. Hence the protected value they would hold in that specific scenario is meaningless. Just to be clear, I am NOT predicting a doomsday scenario nor do I wish for it. However, the aggregate of political and financial chaos globally makes the probability of a flash crash or another recession more probable than say 1 year ago. Emphasis on 'probable'. Some 'know' that a flash crash is highly impossible, based on old knowledge. Controls of over the forex markets and stock markets have actually been stripped away. This can be found from reputable sources on the net. Did I say I was preparing for 'doomsday'? I did not. I've been considering the utility of Bitcoin and cryptos.
Felix000
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You may enjoy watching Chris Ciovacco @CiovaccoCapital weekly videos the best of the best unbiased on social media also there is only one person I know that can kill off just about anybody in the crypto sphere right now and you may be interested .In just 10 days 1,500+ parties signed up run net nodes, over 500 devs declared interest developing decentralized apps...capable processing 100,000's transacs in secs No existing #blockchain platform capable achieving same to date..operates at fraction energy of #bitcoin network & more. check out @elixxir_io @chaumdotcom Cool. Enjoy@Captain_Walker,
Captain_Walker
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@Felix000, Excellent stuff!! Thanks for sharing. I'm encouraging all traders to share more info and work together.
This is not my analysis, this RIZK nicknamed colleague. The pic is simple but well illustrates that a third fractal can be created. That's why I'm also thinking that I'm buying bitcoins at 1600 usd. I think a third fractal starts with the real rise.