TradingShot

BITCOIN Digital Gold acting as a Safe Haven in the Iran Conflict

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a short, mostly illustrative study that makes a good argument of how Bitcoin acted as a Safe Haven during the Iran Conflict.

In doing so I am comparing Bitcoin to Gold , which is the traditional standard of Safe Haven. I don't want to go into much detail through the timeline of the Iran Conflict, as the chart comparison is pretty explanatory itself. You see that BTC's price action has been identical to Gold's throughout the conflict. In fact the spikes (upon acts of aggression) and pull backs (upon acts of deescalation) are fairly similar.

This is a good case in favor of those who call Bitcoin "The Digital Gold". After all Bitcoin's use is that of Store of Value.

Do you think Bitcoin is the Digital Gold in times of geopolitical tensions? Let me know in the comments section!

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**NOTE: That is not the first time BTC and Gold provide patterns with striking similarities.

Similarities that have allowed to accurately price Bitcoin's bottom:


Or still see an early entry on the Golden Cross occurrence:


Even spot the parabolic extension from the 0.382 Fibonacci level to the 0.618 peak:


Among others:



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This is by far one of the best Articles I've read on Tradingview.
Nice work mate.
Would love to have your views on mine:https://www.
+1 Reply
Yeap! This what i see uncle Shot :)
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It appears to be logical. I was in Iran when everything got real and missiles were shot in retaliation. I was sure BTC and gold would go up the next day. but BTC was so much faster and ran up the ladder. While BTC going up was in my personal interest, peace is what we all wish in the long run for all.
Anyway, that was when I realized BTC has proven to a be new safe heaven such that even laymen (those unfamiliar with high-tech) were suddenly talking about btc purchase!!!
Reply
Hey look at my idea, premium index has been leading past year. Could signal a downturn if it hold possitive.

+1 Reply
@DemKos, Thanks for sharing!
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