Silver 2008-2013 vs current bitcoin

FX_IDC:XAGUSD   Silver / U.S. Dollar
1591 15
Interesting comparison between silver 2008-2013 and current bitcoin suggesting big bear market incoming.
With an stimation of 1B ounces of silver in the market, silver peaked at around 49B usd market cap, similar to the past bitcoin peak at 48B market cap.
Comment: Oh, btw:
Silver in red
Bitcoin in blue
Bitcoin blue, silver red
Comment: Updated symmetry.
Comment: Mmmm wrong chart. Don't know why that was in my copy memory.
This is the updated chart.
You're just matching silver's peak with whatever Bitcoin's peak seems to be at the moment. You did the same thing when BTC was 3955 in September 20. 2017. above. But then look what happened. Now you just move the chart to adjust it so it matches again. And you'll keep doing it when BTC reaches 50k again?

I don't think this is the right way to look at these (two completely different) markets.
+1 Reply
bagofXMR eyupium
@eyupium, Never tried to disguise that. I still stand for price behaviour similarities between both. I dont think most markets differ too much, but specially silver and bitcoin trade very alike. You can disagree, unluckily you don't have a button for that in here. Thanks for your opinion anyways.
bagofXMR eyupium
@eyupium, I'm pretty sure when the bubble unfolds (now? in 6 months? in 18 months? it's a matter of when not if) you will see how most bubble behave similarly and specially how bitcoin chart will potentially look very alike to silver chart.
Hi mate,

Not the same financial field, not the same market allocation, not the same capitalisation and essential thing: not the same usage...

In a pov purely data analysis yes is pretty same on graph, but in real usage/concret is totally different
I think that the low btc supply, and a lot of people that will be joining it must be considered, so i don't think that silver behavior will be played at all in bitcoin, just my thoughts, still loving this chart too :)
+1 Reply
came back to see if it still checks out. this is fucking amazing lol
bagofXMR TeaMiura
@TeaMiura, Bubbles play out amazingly similarly
TeaMiura bagofXMR
@bagofXMR, the only difference will be the new ath imo. i think BTC/cryptos will follow the up/down Silver trend, but it will be rising in general. I dont know the financial term for that tho :)
I am very curious about the next week. it will change my perception towards the trading if it still goes in sync with still. Also, this is absolutely brilliant, may I ask how you noticed the similarity? by chance, software or by having a brilliant brain??
+1 Reply
TeaMiura TeaMiura
also have been following this particular chart since i saw it on reddit. thanks for the idea!
+1 Reply
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