Compare gold chart to bitcoin chart. Very similar. Must see.

[gustav]

gold:


bitcoin:


Striking similarity. I thought it's worth sharing.


seen here: https://twitter.com/CryptOrca/status/570430146433437696

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[tokeweed]

Nice observation.

[NotHatinJustTrollin]

All bubbles look like that.


Some bubbles recover (NASDAQ at the dotcom bubble, gold) some don't (South Sea Stock, Tulips, Beanie Babies, Random Penny Stock Pump&Dumps, shitcoins).


That shape alone doesn't tell you whether a bubble will recover or not.

[farting_shot]

The similarity will end going forward. Bitcoin will continue its death march to zero, while gold maintains and even increase its value.

[tokeweed]

The similarity will end going forward. Bitcoin will continue its death march to zero, while gold maintains and even increase its value.

I'll not listen to you.  We are Bitcoiners!

[randy8777]

The similarity will end going forward. Bitcoin will continue its death march to zero, while gold maintains and even increase its value.

do you happen to be an alt of legendary member kwukduck? some members can't seem to stop with spreading negativity. they use plenty of low activity accounts to do so.

[HeliKopterBen]

All bubbles look like that.


Some bubbles recover (NASDAQ at the dotcom bubble, gold) some don't (South Sea Stock, Tulips, Beanie Babies, Random Penny Stock Pump&Dumps, shitcoins).


That shape alone doesn't tell you whether a bubble will recover or not.

Except bitcoin has never been in a bubble.  That is decades away.

[Morecoin Freeman]

Nice observation OP. Good times ahead for bitcoiners.

[redsn0w]

We cannot compare the two charts , the first one " 1970 - 2011" the second (bitcoin) 2009 - 2015. Bitcoin is like gold (yes it is 'like' not identical).

[NotHatinJustTrollin]

[NotHatinJustTrollin]

All bubbles look like that.


Some bubbles recover (NASDAQ at the dotcom bubble, gold) some don't (South Sea Stock, Tulips, Beanie Babies, Random Penny Stock Pump&Dumps, shitcoins).


That shape alone doesn't tell you whether a bubble will recover or not.

Except bitcoin has never been in a bubble.  

[tokeweed]

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

[NotHatinJustTrollin]

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

Why?

A lot of penny stock pump&dumps end up at $5-$10 billion marketcap before crashing.

Guess where bitcoin is and was at around $1000 in terms of marketcap.

Woops 

[tokeweed]

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

Why?

A lot of penny stock pump&dumps end up at $5-$10 billion marketcap before crashing.

Guess where bitcoin is and was at around $1000 in terms of marketcap.

Woops 

I'll not listen to you.  We are Bitcoiners!

[lonelybitcoin]

Wow, nice work! Never thought of this. But thats very cool to see.

[UnDerDoG81]

I wonder what those Bitcoin bashers even do here in the forum 

[minerpumpkin]

It actually is quite an interesting comparison. Of course it is much too early to actually tell whether Bitcoin will go the same way. But it shows one thing: Assets are (at times) more than able to recover and even achieve new highs! Also, you might want to take a look at AMZN or even AAPL when it comes to assets 'returning from the dead' - I don't even consider Bitcoin dead, actually...

[Amph]

snip

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

Why?

A lot of penny stock pump&dumps end up at $5-$10 billion marketcap before crashing.

Guess where bitcoin is and was at around $1000 in terms of marketcap.

Woops 

ath of bitcoin was faked by willy bot, and unless willybot was playing with those rubbish stock too, i don't think there is much to compare

bitcoin is actually rising, despite the recent down-trend

those charts share somehow the same beginning, but how they will evolve will be different without question

[redsn0w]

snip

Are those pinksheets?  How dare you compare Bitcoin to those pump and dump junk stocks.

Why?

A lot of penny stock pump&dumps end up at $5-$10 billion marketcap before crashing.

Guess where bitcoin is and was at around $1000 in terms of marketcap.

Woops 

ath of bitcoin was faked by willy bot, and unless willybot was playing with those rubbish stock too, i don't think there is much to compare

bitcoin is actually rising, despite the recent down-trend

those charts share somehow the same beginning, but how they will evolve will be different without question

I do not think it is rising (if we compare it to the old 1'000 dollars per bitcoin). However until one bitcoin will be valued 0.01 $ I think it is more better than other alternative.

[yayayo]

Judging from optical comparison alone there's certainly a high degree of similarity. But I don't think it's appropriate to draw conclusions from optical similarities for these reasons:

1. The charts have entirely different time spans: Gold >30 years, Bitcoin 10 months.

2. Being allowed to pick an arbitrary amount of data from an arbitrary asset and from arbitrary points in time to compare it to equally arbitrary data from another asset has a 100% probability to find similarities if you search for them.

3. Gold and Bitcoin are not from the same class of assets. At least, gold has been and is subject to intervention from central banks - it's not a free market.

4. Past results are not an indicator of future performance. You will find other charts (already posted in this thread) that will also look similar to Bitcoin's current chart but will show a totally different future projection.

ya.ya.yo!