Twitter user points out parallels between Gold chart and Bitcoin chart

08 Sep, 2018
by David Borman
News
Twitter user points out parallels between Gold chart and Bitcoin chart

Bitcoinist is reporting on an observation made recently by a twitter user regarding the log scale charts for Bitcoin and Gold. Specifically that the Gold chart spanning 43 years looks amazingly similar to the Bitcoin chart spanning the last 4.5 years.

Despite the claim it is a 9 year Bitcoin chart, it looks to actually be only about 4.5 years, a point addressed in the comments.

Bitcoin is often referred to as "digital gold," so perhaps this correlation is not surprising. One twitter user explained the finding with math:

Many people are jumping on the bandwagon that gold is old news and cryptocurrency is the value store of tomorrow. Recently, Ron Paul was quoted:

"There are several major efforts being made to replace the fiat dollar with gold or cryptocurrencies, while other countries are making plans to challenge the dollar as the world’s reserve currency."

Overall, this seems like optimistic news for crypto, but we will just have to wait and see.

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Read more about: Bitcoin (BTC)

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