Gold and bitcoin do have one thing in common. The supply is (relatively) fixated. Also, people might (arguably) treat them as store of value.
Hence in times of economic depression, we could only expect gold (and probably) bitcoin to perform well.
Topic: Similarities to Gold? (Read 120 times)
Bitcoin doesnt' have any thing in common with gold... I dont know why a lot of people are using this as a reference. Bitcoin does not even have an stable price (and gold yes, of course)
This is like a tabú, everybody is talking or comparing bitcoin to gold.
This is like a tabú, everybody is talking or comparing bitcoin to gold.
The only reason gold a stable (it's not stable, but more stable than) bitcoin, is because it has a marketcap work trillions, while bitcoin has a marketcap worth less than a trillion, so naturally, it's going to be way more volatile than gold.
As trillions of dollars flock in, the price for bitcoin will be harder to move, and therefore less volatile.
If you study the data, you will see volatility on bitcoin is decreasing over the years.
The comparation to gold is because it acts as a neutral asset against fiat currencies and stocks related to countries.
Bitcoin doesnt' have any thing in common with gold... I dont know why a lot of people are using this as a reference. Bitcoin does not even have an stable price (and gold yes, of course)
This is like a tabú, everybody is talking or comparing bitcoin to gold.
This is like a tabú, everybody is talking or comparing bitcoin to gold.
https://i.imgur.com/ayET6lX.png
A few weeks ago I commented on the similarities of Bitcoin over the past year and Gold over the past 30, but I just brushed it off.
Now that the pattern seems to be matching more and more, I am beginning to wonder, is there a strategy here?
I am very new to trading, so I thought I'd post here and get your opinions.
Thanks!
A few weeks ago I commented on the similarities of Bitcoin over the past year and Gold over the past 30, but I just brushed it off.
Now that the pattern seems to be matching more and more, I am beginning to wonder, is there a strategy here?
I am very new to trading, so I thought I'd post here and get your opinions.
Thanks!
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