Bitcoin moving on the pathway of Gold - page 3.

Zeke_23

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Quote from: Kyraishi on October 16, 2019, 04:24:49 AM

That's really strange for sure, the 2 things are very different but when the graphs get placed together, it looks almost identical.

Not sure what's the reason to this, but if we are following the graph it estimates that there'll be a price pump in 2020? ETF is getting very close to being completed as well...

It's pretty crazy to see a decentralizatied technical coin be very similar to a traditional fiat investment.

This may be a coincidence but this may also be destined to happen. If this will continue to happen and actually follow the way how gold showed in the graph this may be a good way for bitcoin.
Bitcoin is considered as a second gold, they have a lot of similarities, and they are also both using as a long term investment.
It will be another bullish market to come in the crypto world.

Lmaooo

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santacoin.io

Bitcoin was invented as a digital store of value while Gold is a physical store of value. I think bitcoin and gold shared a lot of similarities in so many different ways. the major things that separate gold and bitcoin, the gold is centralized, fully regulated and less volatile compared to bitcoin volatility.

franky1

legendary

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I CALL B.S

the price of gold in the late 1970's-early 80's was HIGHER than any price there after
i kinda laugh that the OP took 'source' from a tweet without checking it out.

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

Kyraishi

hero member

Activity: 952

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That's really strange for sure, the 2 things are very different but when the graphs get placed together, it looks almost identical.

Not sure what's the reason to this, but if we are following the graph it estimates that there'll be a price pump in 2020? ETF is getting very close to being completed as well...

It's pretty crazy to see a decentralizatied technical coin be very similar to a traditional fiat investment.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

This kind of thoughts are already aged. But I am still rooting for this to happen, we just need to be patience. We have to wait more, that's why when you start having Bitcoin, you should look for long term position, just like gold, gold until now is still there. Gold and Bitcoin has their own similarities and different advantages or disadvantages.

But what if Bitcoin will don't get any ETF, do you think we can still follow Gold?

ufaiz50

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Quote from: teosanru on October 16, 2019, 02:32:31 AM

I personally think the comparison of Gold with Bitcoin doesn't makes any sense but I couldn't stop myself from sharing this chart comparison between both. Some would say that gold's chart is twitched and time frames are taken in such a way to look like that of Bitcoin but that actually is a normal chart and taken from recent history. Moreover, I am not saying that Bitcoin ETF could provoke a similar pump but similarity on chart does show that this isn't quite the end of BTC and neither are we becoming stagnant here.

picture credits: @bitcoin_holders

If more than 70% of cryptocurrency users treat bitcoin as a high-value asset, by holding it, then I think the bitcoin chart will be the same as gold. It depends on the user, but with a high difference between technology assets and traditional assets, it will most likely not be the same. BTW I seem to have seen the chart in late 2018, what year was the chart?

Mandoy

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Aurox

Based on the chart that you placed there is a similarity between the movement of the trend. If we follow the lines it seems that bitcoin is following the pathway of Gold. But there is a very frightening idea that comes to my mind. Is there someone who is manipulating the price of bitcoin to follow the pattern the same as gold.Or there are organizations that manipulated the value of gold, and they are once again going to manipulate the price trend of bitcoin to follow the same pattern. Is there something in that pattern that they are trying to show us.

But before I discuss anymore about my conspiracy theory I will go back to the main topic. If the trend is not a coincidence then bitcoin could be really big in the future and the bullish group are right about their prediction that bitcoin will hit 100k dollars to 1 million dollars in the years to come.But the biggest obstacle for bitcoin is the approval of ETF by the SEC since all ETF were rejected and trashed by the SEC. Hence, the ETF is the one of the difference between gold and bitcoin. Golds skyrocket is caused by ETF while bitcoins downtrend is caused by the rejection of ETF.

teosanru

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Quote from: ChrisPop on October 16, 2019, 02:44:14 AM

Although this is an interesting similarity, Bitcoin is a much bigger beast than Gold has ever been before. A proven thing is that people tend to underestimate the power of the people and compounding. The 300% jump in gold price after the ETF is nothing compared to what BTC is capable of even without an ETF. Gold is just a metal, Bitcoin is the pioneer of the blockchain technology and the king of the cryptocurrency meant to become the world's universal currency.

Yes that is a good point because bitcoin is much more volatile and has made a lot of big jumps so 300% is almost nothing. These charts show absolute increases and not logarithmic increases. Bitcoin has given exponential gains in the past while gold has taken around hundreds of year to display such exponential increases. I know bitcoin differs altogether from Gold in qualitative features, I don't want this thread to become another Bitcoin vs Gold in qualitative aspects.

ChrisPop

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Not your Keys, Not your Bitcoins

Although this is an interesting similarity, Bitcoin is a much bigger beast than Gold has ever been before. A proven thing is that people tend to underestimate the power of the people and compounding. The 300% jump in gold price after the ETF is nothing compared to what BTC is capable of even without an ETF. Gold is just a metal, Bitcoin is the pioneer of the blockchain technology and the king of the cryptocurrency meant to become the world's universal currency.

teosanru

hero member

Activity: 2114

Merit: 619

I personally think the comparison of Gold with Bitcoin doesn't makes any sense but I couldn't stop myself from sharing this chart comparison between both. Some would say that gold's chart is twitched and time frames are taken in such a way to look like that of Bitcoin but that actually is a normal chart and taken from recent history. Moreover, I am not saying that Bitcoin ETF could provoke a similar pump but similarity on chart does show that this isn't quite the end of BTC and neither are we becoming stagnant here.

picture credits: @bitcoin_holders

Topic: Bitcoin moving on the pathway of Gold - page 3. (Read 513 times)