Bitcoin moving on the pathway of Gold

[bharal07]

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.


picture credits: @bitcoin_holders

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.

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.

[ILuckyGuyI]

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.

[teosanru]

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

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.

[lepbagong]

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.

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.

[haidil]

Just a false equivalency, focusing on things people always say (Bitcoin is a digital gold) and focusing on two extremely different timeline graphs and making them look similar. I wouldn't compare the two on price especially over such a long timeline compared to bitcoins short lifespan so far.

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.

[boltz]

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.

[Eugenar]

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.

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.

[FlightyPouch]

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.

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.

[Pearls Before Swine]

bitcoin and gold are not similar by any metric

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.

[jsizar]

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

[teosanru]

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.

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.

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.

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.

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.

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

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.

[jarhed]

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.

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.

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.

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.

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.

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

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.

[andreibi]

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.

[xiboothrezi]

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.

snip---

so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart


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

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.

[shield132]

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.

[alexsandria]

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.

[Upgate]

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

[teosanru]

snip---

so here you go. REAL gold price chart from real source
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart


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

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:

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

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.

[bounceback]

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.

[teosanru]

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.