InvestingScope

The remarkable resemblance of Bitcoin and Gold.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has been referred to as the "Digital Gold", mostly due to its store of value. This inter-asset study shows the historical performance of Bitcoin and an asset linked closely with, Gold . It is obvious that they display remarkable similarities.

Of course the time frames are different but how couldn't they be, since Bitcoin is a fairly recent asset while Gold has been "widely used throughout the world as money, for efficient indirect exchange (versus barter), and to store wealth in hoards".

Fundamentally, Bitcoin can be a disruptor to Gold . Gold's power is derived by its scarcity and Bitcoin's fixed supply is at least an equivalent quality.

Despite the time frame variation, the comparison provides some useful information. During those time frames they both consolidated after a strong bullish run which was followed by a stronger hyperbolic bull sequence. Credible to the price action of their pattern, they are now on a sell channel that (based on the historic sequence) should give rise to another bull run.

What are your thoughts on the identical historical performance of Bitcoin and Gold? Can it be a guide for the future, a hint of BTC's stability as store of value?







Guide for the future. Hint for stability, store of value.


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classic market cycle
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BarclayJames TheDudeForex
+1 Reply
Please allow me to share my chart here with you and your followers.

Thanks a lot for all of your great work.

Here:

Namaste.
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Very interesting analysis, we saw the impulse to correction to impulse and we're up 9.79% now! Love the correlation you are showing with Gold, something that needs to be looked at for sure.
+1 Reply
InvestingScope TradeIndicators
@TradeIndicators, Thanks for sharing
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@qmty, Thanks for the input.
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Older one here, which is valid so far
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My thoughts so far - fairly recent one here
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InvestingScope Zoen_Trieste
@Zoen_Trieste, Thanks, 2600 - 2800 seems to be a fair bottom.
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