Bitcoin Forum

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.

https://pbs.twimg.com/media/EG8Eu-6XUAAbnmI?format=jpg&name=large
picture credits: @bitcoin_holders

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.

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.

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?

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?

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.

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
https://i.imgur.com/B9CF1KZ.png

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

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. 

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.

It is really interesting to see that Bitcoin has a very similar graph to gold. If we take account that Bitcoin is growing faster compared to gold, the future graph will be much better than gold's I think.

indeed to make a picture like this is very easy but if realizing a very high price like that would be very difficult to happen, now imagine if everyone knew this position then who would buy bitcoin? everything will definitely wait until the price goes up but no one buys bitcoin anymore.

In as much that bitcoin might have some similar characteristics with Gold in terms of market growth and market cap, Bitcoin in no way moving on the pathway of Gold.
The market volume of Gold has a level of consistency and it's market price has a low level of fluctuation, whiles bitcoin, on the other hand, has nothing similar to this.
The market price of Bitcoin keeps fluctuating due to the volatile nature of it. How can bitcoin be moving in the pathway of Gold when its price is not somehow stable enough?

So simple to see the comparison but its hard to see the future movements of bitcoin. We all want that to happen, to see bitcoin to move above all currency. In time hoping for that to happen, will just buy and sell if there’s a good chance to take profit and I’m hope that bitcoin will become more stable like gold so everyone can now use it as a mode of payments with a less risk.

Although graphs depict almost same results for bitcoin and gold but we cant compare both because each has its own importance as btc is digitally valued and gold is physical store of value which can be exchanged in legal currency.But btc has shown major growths in the past and prices are highly volatile and we can loose all money but this is not the case of gold as it will always have a monetary value.All that i want is btc grow to much higher level once again so we can gain profits.

you can always manipulate any chart of any asset to look like the charts of any other asset just by a simple change of intervals, zoom, ... that doesn't mean the two markets are the same or even have anything in common.
this charts has been around for a while comparing bitcoin to gold. it is mostly trying to convince people that bitcoin is going up because gold has gone up and also relate all that to ETF. it also started during the downtrend and the height of SEC ETF rejections.
long story short the two, have nothing in common and bitcoin will go up and sometimes it may resemble gold but it is still a completely independent market with rises that are nothing like any other market.

i cant believe people are still posting that they actually believe gold market and bitcoin market are similar... all because of a twitter meme
are people really that gullible

check out my last post in this topic for clarification

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

Interesting observation. Personally, I don't believe that bitcoin would lose its relevance especially in our time. Bitcoin and gold both have limited total supply too. It could be just a coincidence or it's just the trend of new currencies. However, we still could not say the future movement of bitcoin, we cannot predict based on this observation. But one thing's for sure, bitcoin would not be gone soon and would still continue to be known to the general public.

I am disagreeing a lot of statements that say bitcoin is the next gold but seeing this chart really amazes and surprises me. I might consider what may happen but I don't think we should also think that bitcoin will be the next gold. It is not that I am close-minded about this, it is just that we all know that cryptocurrency, an intangible digital currency like bitcoin will never be the same as Gold.

Then that is a good sign and no one should worry about bitcoin because bitcoin can't finish just because of the gold chart. And maybe because of the gold chart the increase in bitcoin's profit is rising very good news.

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.

Wait a second how did you take 1980's gold price at $2200? As far as i can see the records it was $35 in 1970 and then ran all the way upto $599 in 1980 and then it is now today at $1400 after touching an all time high of around 1570-1580. So can you please clear how you took gold's price at $2200 when it has never reached until that height.

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.

do not compare the two because they are not the same, so far I have used them as an investment, but bitcoin for me is still the best.

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.

they are very different, let us say, people have their bitcoins and gold with them, the main difference is that, many people accumulate many bitcoins and it becomes much more valuable, while with gold, the value doesn't depends on the number of people using it, but to the number of years it takes for its value to increase based on their common characteristics which is the less they become, the more they cost in the market.

That's what I said. The reason I said cryptocurrency since we all know the price depends on the demand for it. I think you misunderstood my statement. I did say they are different.

No they aren't.  And I would also say that a lot of things have similar charts like that if you cherry pick the time frame.  I'm nearly positive there are probably a hundred stocks that would have very similar looking peaks if you look all throughout their price histories. 

A lot of this has to do with what the investment community is doing as a whole.  Notice that the charts of blue chip stocks often look just like the chart for the DJIA or that the DJIA chart looks like the S&P 500's chart?  It's big money being piled into multiple investments all at once, and prices tend to rise and fall in tandem.  What op showed with that chart does NOT mean that bitcoin and gold are correlated.

Unfortunatly, sec dont want to llow ETF. They are scared about  mass adoption

But most of the folks who don't know what bitcoin actually is look at it just like a store of value similar to gold or digital gold to be specific.
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.
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.

A lot of time has passed since the moment when gold received permission for large trade. I think that Bitcoin will receive permission for ETF in 10-15 years.

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.

https://i.imgur.com/Q7EGL1j.jpg
https://i.imgur.com/dPC59oX.png

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.
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.

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.

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.

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

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:
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.

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.

They have completely different paths. Bitcoin and gold are two different substances

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.

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.

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.

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.

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).

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.

Absolutely not, bitcoin and gold are moving in different directions

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.