Interesting idea. I also think that comparing bitcoin and gold is not entirely correct. At the same time, similar trends in global growth can be seen. I think that the cryptocurrency market as a whole has huge development prospects. As for the price of Bitcoin and other cryptocurrencies, no one can accurately predict it, since many factors influence its formation.
Topic: Bitcoin moving on the pathway of Gold (Read 511 times)
Absolutely not, bitcoin and gold are moving in different directions
I think this is just a graph similarity. bitcoin and gold are both very different we cannot compare the two. bitcoin with its fluctuations can go up and down without anyone controlling and unpredictable. but I think the value of gold tends to be stable. and bitcoin with its blockchain technology I think has its own path.
According to the graphs, the similarities between Bitcoin and gold seem very surprising. Bitcoin is really giving the impression of moving on the path of gold. I can't wait to see Bitcoin to overtake gold in 15-20 years (in my opinion).
Yes.. you right.. I have always said that bitcoin will continue to experience significant movement. 2020 will be a great growth for bitcoin and cryptocurrency. Thank you.
Bitcoin and gold are two complete different assets. Considering the fact that bitcoin fluctuates at a greater margin more often than not as compared to what happens with physical gold. When the ETF is finally passed, Bitcoin would really become a potential challenger to physical gold in the very near future. Nevertheless, the chart makes sense but the two commodities work on different scale.
Well, if that graph is real then bitcoin and gold shared lots of similarities based on the price growth history and that graph is showing bitcoin has lots to offer yet with huge potential in the future. The bitcoin is only 10 years into existence and yet a very big rival for gold and perhaps this is just the beginning.
Nice comparison but Gold cannot be equated with bitcoin. Gold is Gold but Bitcoins have thousands of rival cryptos.
Actually nowadays after the segwit implementation, the new narrative is: Bitcoin is digital gold, a store of value which you can easily move across borders unlike gold which you cannot bring loads of through airport security.
Nice comparison but Gold cannot be equated with bitcoin. Gold is Gold but Bitcoins have thousands of rival cryptos.
They have completely different paths. Bitcoin and gold are two different substances
maybe when you post a bitcoin and gold chart comparison, this is an interesting thing for bitcoin investors because they will buy some bitcoin at such a low price and they will sell it again when the price is higher because the price of bitcoin is always stable compared to the price of gold because the price of gold needs a long time to stabilize prices.
I think the main reason behind this is that gold's holding is very distributed while the supply of bitcoin is still in hands of some larger whales which makes it much more volatile than bitcoin. But things won't be like this forever soon bitcoin would be more evenly distributed and volatility too could be reduced. 
maybe when you post a bitcoin and gold chart comparison, this is an interesting thing for bitcoin investors because they will buy some bitcoin at such a low price and they will sell it again when the price is higher because the price of bitcoin is always stable compared to the price of gold because the price of gold needs a long time to stabilize prices.
snip---
so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
oh look it looks nothing alike
when people start thinking twitter memes are a source of fact.. them people should lose permission to make financial decisions and advocate a family member to decide for them
the meme suggests that golds 1980's price of $2200 has recently seen a $6600 peak.
i guarantee you that never happened
Oh sorry just missed this chart shown by you. Actually if you have a look at the source yourself this is deflated using the consumer price index which means the loaf story you are telling about is already adjusted in this scenario. Just take a sneak peek to the table below it and you would know the real gold price in absolute terms. What you did here:so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
oh look it looks nothing alike
when people start thinking twitter memes are a source of fact.. them people should lose permission to make financial decisions and advocate a family member to decide for them
the meme suggests that golds 1980's price of $2200 has recently seen a $6600 peak.
i guarantee you that never happened
also to add
gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
just doesn't adds up because you deflated something which was already deflated. Gold's purchasing power dropped by just 40% as far as I can see but that also is a variable metric which can't be used on Bitcoin. All this double deflation you did to make your facts look more convincing doesn't adds up. gold 1980-2018
average Cost Loaf of Bread Food
1980 50 cents 2018 $2.50
so 1980's gold price of $2200 = 4400 loaves
so golds current price of $1400 = 560 loaves
golds purchasing power has DROPPED by 800%
bitcoins purchasing power of 2009 - 2019
2010 1 slice - today 3400 loaves
bitcoin and gold are not similar by any metric
From the chart I really hope history repeats it self, gold has a strong growth so as a hope bitcoin does so, however it's not a sure thing this could just be a coincidence bitcoin might to go in the same way
Sorry, but i dont believe in these kinds of comparison. Obviouusly if you look at every single kind of details, you will see that they aren't alike in any levels. Also I hate conspiracy theories that are saying what if bitcoin's price is being manipulated. I mean, we are in 2019 man! We can always fact check now. Don't believe on everything that you see on the internet. The only thing that I see the similarities on bitcoin and gold is that they both have value and you can use them as a form of investment because their price both changes over time.
Wow, these charts are very similar. To be fair I'm skeptical with similar chart comparisons but in this situation I agree with you, maybe history repeats again and at the moment it's bitcoin. Why? Because we had 20K price and I think it's gold rule: Bitcoin will surpass it's all time high. Also there is upcoming halving and remember what happened in past, halving played huge role in bitcoin's price rise from 600$ to 20k. I think this upcoming halving will do the same in current situation and we may see bitcoin's price to rise and skyrocket this time. Results must be similar of that Gold's chart.
The journey of gold is quite long since 1980 to reach 300%, the time is quite long when compared to Bitcoin which just passed its first decade. Apart from the unclear time frame that is displayed on the chart, it is assumed to be the same. And the following chart strengthens my opinion.
snip---
so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
oh look it looks nothing alike
when people start thinking twitter memes are a source of fact.. them people should lose permission to make financial decisions and advocate a family member to decide for them
the meme suggests that golds 1980's price of $2200 has recently seen a $6600 peak.
i guarantee you that never happened
However, I am quite sure that BTC can also reach a new record specifically, it can be faster than a gold record, Bitcoin is very volatile. so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
oh look it looks nothing alike
when people start thinking twitter memes are a source of fact.. them people should lose permission to make financial decisions and advocate a family member to decide for them
the meme suggests that golds 1980's price of $2200 has recently seen a $6600 peak.
i guarantee you that never happened
The similarity stopped when Bitcoin crashed from $10,000 to to $8,000. Traders hoped the Bakkt launch would bring in the institutional investors which did not happen at all. Check out where the similarity ended.
The graphs of Bitcoin and gold are too similar and this can be an indicative for Bitcoin to boom like gold in the future. And I believe that Bitcoin will overtake gold in 10-15 years from now.
Obviously the market share is different between gold and bitcoin, charts cannot determine that there are similarities. from the price movement alone is very different between bitcoin and gold.bitcoin will still become a new market share besides gold, and they will move on their own and will not influence or take over each other.
Those 2 chars looks almost identical. I would expect Bitcoin to follow gold pattern in a different way but in the same time to have the same growth but this would mean that we're about to witness the last pump of bitcoin ? If that is the case , Bitcoin needs to achieve a lot more in order to separate itself from the gold and from the pattern as this is the only similar they're having right now. Remember we're still years away from Bitcoin mining supply getting done so I have my reasons to believe Bitcoin will be a lot more bigger than gold chart.
I think it could really achieve similar heights because gold mining too has reduced drastically and is pretty much controlled while btc minning too is Getting scarce with another halving.Unfortunatly, sec dont want to llow ETF. They are scared about mass adoption
Don't worry gold had a history of more than 1000 years before SEC approved them bitcoin is just 10 years old things take time.The graphs of Bitcoin and gold are too similar and this can be an indicative for Bitcoin to boom like gold in the future. And I believe that Bitcoin will overtake gold in 10-15 years from now.
Obviously the market share is different between gold and bitcoin, charts cannot determine that there are similarities. from the price movement alone is very different between bitcoin and gold.bitcoin will still become a new market share besides gold, and they will move on their own and will not influence or take over each other.
Those 2 chars looks almost identical. I would expect Bitcoin to follow gold pattern in a different way but in the same time to have the same growth but this would mean that we're about to witness the last pump of bitcoin ? If that is the case , Bitcoin needs to achieve a lot more in order to separate itself from the gold and from the pattern as this is the only similar they're having right now. Remember we're still years away from Bitcoin mining supply getting done so I have my reasons to believe Bitcoin will be a lot more bigger than gold chart.
I think it could really achieve similar heights because gold mining too has reduced drastically and is pretty much controlled while btc minning too is Getting scarce with another halving.Unfortunatly, sec dont want to llow ETF. They are scared about mass adoption
Don't worry gold had a history of more than 1000 years before SEC approved them bitcoin is just 10 years old things take time. Jump to: