Primarily this is a bitcoin chart but in order to manage to include historical data from MtGox I have to choose a symbol with long time period as such I've chosen gold. Thanks to munkeefonix for help understanding how to do this in TradingView. I am however interested in comparison of bitcoin and gold which can both be seen on this chart and are both forms of money which rival the fiat central banking bits of paper we all love to value (for some reason)
It is strange to see all the volatility and the price peak of gold and subsequent decline look so flat compared to bitcoin when both shown on same scale. Price is log in this chart. While gold looks like a stable store of value from this perspective bitcoin on the other hand looks like its ready for another rampaging bull run after already rising from only a few cents up to over $1000.
With price now down below $400 is bitcoin looking cheap again ? I've scetched in some arrows to show how a new bigger bubble might possibly unfold next year taking price up to new all time highs above $15000 !
Disclaimer: Investment desicions are your own. You may choose to buy into the stock market instead of bitcoin. Good luck
It is strange to see all the volatility and the price peak of gold and subsequent decline look so flat compared to bitcoin when both shown on same scale. Price is log in this chart. While gold looks like a stable store of value from this perspective bitcoin on the other hand looks like its ready for another rampaging bull run after already rising from only a few cents up to over $1000.
With price now down below $400 is bitcoin looking cheap again ? I've scetched in some arrows to show how a new bigger bubble might possibly unfold next year taking price up to new all time highs above $15000 !
Disclaimer: Investment desicions are your own. You may choose to buy into the stock market instead of bitcoin. Good luck