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[myself]

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[miscreanity]

Invalid comparison - completely different asset classes. If you were looking at a primary hardware supplier for Bitcoin operations, that might have relevance.

[trogdorjw73]

Never mind the fact that Home Depot took three years to go from around $11 to nearly $70 before starting a downward trend that would last another three years (and coincided with the dot com bubble). Anyway, let's compare apples with steak and argue that since they're both food, they're similar. LOL

[miscreanity]

lines are lines chart are charts no matter from where that chart come

There are often similar patterns in monetary value growth rates, but they are not necessarily due to the same factors. Bitcoin (quasi-commodity crypto-currency) is about as similar to Home Depot (construction supplies & tools) as a hula hoop (entertainment). The value denomination (USD) is the prime common element, and that isn't enough to draw conclusions or correlations.

[bb113]

lines are lines chart are charts no matter from where that chart come

There are often similar patterns in monetary value growth rates, but they are not necessarily due to the same factors. Bitcoin (quasi-commodity crypto-currency) is about as similar to Home Depot (construction supplies & tools) as a hula hoop (entertainment). The value denomination (USD) is the prime common element, and that isn't enough to draw conclusions or correlations.

I disagree, people buying and selling the thing as an investment is the prime common element.

[miscreanity]

I disagree, people buying and selling the thing as an investment is the prime common element.

Yes, that's a universal reason, the qualitative aspect - a common monetary denomination is the quantitative element. Two sides of the same coin.

[bb113]

I disagree, people buying and selling the thing as an investment is the prime common element.

Yes, that's a universal reason, the qualitative aspect - a common monetary denomination is the quantitative element. Two sides of the same coin.

I think this factor may be very important. People buy or sell based on various indicators. Profitable strategies are copied and applied again later, unprofitable strategies die out (although there is a noob/sucker factor). If enough people are using the same strategies that made them money on home depot stock when trading bitcoin, it could produce a self-fulfilling prophecy, thus explaining (at least some of) the similarity.

[Spekulatius]

Common chart patterns like hype cycles and mass psychology apply to any financial markets, no matter what the underlying security is.
When you compare different securities of any kind (especially NEW technology driven securities IMO) you will find similarities in their shape.

Some examples:

New technology stocks:

Cisco Systems


Tech. Stocks, Housing, Commodoties


Gold (1980)