the pattern charted out by the Gold Market
Compare the bull market move in Gold Futures
on a Monthly Basis from 1975-1987 to the
Weekly Chart of Bitcoin from 2013-present.
As we already know - this is PURE ENTERTAINMENT:
Markets Mimicking Each Other
(In reality - it's just a chart of enthusiasm)
I hope you enjoy how similar they are, with highs and lows a similar size and percentage retracement of previous moves. So, if Bitcoin follows along the path charted by Gold , then it will drift sideways to lower for the balance of 2014 and then drift higher into the first quarter of 2015. Upside to 600 and downside to about 350 in that time frame.
But - I'm just showing you this... I'm not banking on it!
Tim 12:07AM EST Tuesday, August 19, 2014 466.06 last BTCUSD
MONTHLY GC1! 22DAY CHART ON BOTTOM, WEEKLY BTCUSD 5DAY.
Will BTC exceed $500 - probable not with its current move