Bitcoin - Gold - Silver correlation
As can be seen of the graphs, the ways of development for Silver, Gold and Bitcoin are incredibly alike. The only large difference is that BTC made it in 4 years, while for commodities it took 22 years. As yet Robert Kiyosaki declared - gold and silver are kind of a bubbles. The same can be told about BTC of course, regardless of fact that all three assets can be considered a safe island in upcoming global economical crisis and following ones.
Next time you analyze BTC market, you can tale into account sets of factors that affect gold/silver, and backwards. This also can give you a technical advantage, because if you analyze patterns from silver indicators in the past, you will see the same ones in BTC price development, and they can really be applied, because.. well, you see graphs, right?
Let this information add another step to everyone's understanding of Bitcoin and its market behavior.
Next time you analyze BTC market, you can tale into account sets of factors that affect gold/silver, and backwards. This also can give you a technical advantage, because if you analyze patterns from silver indicators in the past, you will see the same ones in BTC price development, and they can really be applied, because.. well, you see graphs, right?
Let this information add another step to everyone's understanding of Bitcoin and its market behavior.
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