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September 19, 2014, 08:35:55 PM |
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I was looking at the bitcoin and gold charts recently, and they're actually ridiculously similar, if on very different timeframes.
Check out a 5 year chart of gold, versus a 1 year chart of BTC.
Both started out very low, and rallied to a new ATH. Then, a crash, then two tries to hit that new high both of which failed. After the second fail, the prices goes into a downtrend. First there's a brief crash, and both create a sure bottom followed by a bounce. But, after some idling, the two got roughly in sync, with both tanking toward that recent low again, gold at 1210-ish and BTC at $360-ish.
What do you think will happen from here, and do you expect the two to move in the same direction from their low, or in opposite directions?
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