I’m no expert at Gold though I wouldn’t be the first or last person to make comparisons between Gold and Bitcoin. Sure both are minable and have a limited supply, but what about price trend similarities?
For Bitcoin fans who check the price daily, you will recognize the similarity of Gold’s parabolic rise from 250 USD to 1,900 USD between the years 2001 to 2016 and Bitcoin’s rise between September 2017 to present (albeit that Bitcoin pricing is x10 of Gold). The Gold price surge started back when the United Stated decided to embark on the hunt for a particular middle eastern man who apparently yielded massively destructive weapons, and ended in 2011 in what seemingly was a bubble. Other similarities to Bitcoin include:
- The peak of 1,900 was viewed as a huge bubble just as the 20k price of Bitcoin was.
- Gold also has little intrinsic value.
- Gold has been refered by some as a relic, and Bitcoin is also showing signs of becoming a relic as newer technology emerges.
- In a more limited way, Bitcoin has also been a flight to safely in certain countries experiencing fiat currency issues.
The differences are:
- Gold looks and feels great!
- The evolving trend for Gold is observed across years rather than months.
Bitcoin leading Gold price trends?
Bitcoin’s recovery from the December 2017 price correction has been similar to Gold. Gold so far has managed to rise back from about 1056 almost hitting 1400 and has since ranged just as Bitcoin bounced back from around 11,000 and started ranging between 13,000 and 16,000. Since Bitcoin price trends evolve faster, would Gold follow a Bitcoin's price recovery? I don’t see a relationship between the two markets currently though time will tell whether the similarities in the graphs would continue.
What about Tulips?
Along with being compared with Gold, Bitcoin has also been referenced countless times to the Tulip and the potential to experience a similar crash to nothingness. So what will make Bitcoin not crash and survive across the centuries as Gold has? Gold bears marked differences between the Tulip and Bitcoin, that being it doesn't die and you can actually hold it and get warm fuzzy feelings. So if Bitcoin is to have a future, the demand for it must develop into what John Maynard Keynes referenced as a "Barbarous relic".
Bitcoin is rising again today . . . and Gold is hitting 1320. Fun times.
For Bitcoin fans who check the price daily, you will recognize the similarity of Gold’s parabolic rise from 250 USD to 1,900 USD between the years 2001 to 2016 and Bitcoin’s rise between September 2017 to present (albeit that Bitcoin pricing is x10 of Gold). The Gold price surge started back when the United Stated decided to embark on the hunt for a particular middle eastern man who apparently yielded massively destructive weapons, and ended in 2011 in what seemingly was a bubble. Other similarities to Bitcoin include:
- The peak of 1,900 was viewed as a huge bubble just as the 20k price of Bitcoin was.
- Gold also has little intrinsic value.
- Gold has been refered by some as a relic, and Bitcoin is also showing signs of becoming a relic as newer technology emerges.
- In a more limited way, Bitcoin has also been a flight to safely in certain countries experiencing fiat currency issues.
The differences are:
- Gold looks and feels great!
- The evolving trend for Gold is observed across years rather than months.
Bitcoin leading Gold price trends?
Bitcoin’s recovery from the December 2017 price correction has been similar to Gold. Gold so far has managed to rise back from about 1056 almost hitting 1400 and has since ranged just as Bitcoin bounced back from around 11,000 and started ranging between 13,000 and 16,000. Since Bitcoin price trends evolve faster, would Gold follow a Bitcoin's price recovery? I don’t see a relationship between the two markets currently though time will tell whether the similarities in the graphs would continue.
What about Tulips?
Along with being compared with Gold, Bitcoin has also been referenced countless times to the Tulip and the potential to experience a similar crash to nothingness. So what will make Bitcoin not crash and survive across the centuries as Gold has? Gold bears marked differences between the Tulip and Bitcoin, that being it doesn't die and you can actually hold it and get warm fuzzy feelings. So if Bitcoin is to have a future, the demand for it must develop into what John Maynard Keynes referenced as a "Barbarous relic".
Bitcoin is rising again today . . . and Gold is hitting 1320. Fun times.