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.
Silver in red
Bitcoin in blue
Bitcoin blue, silver red
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.
@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.
@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.
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 :)
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??