"History Doesn't Repeat Itself, but It Often Rhymes."
Here's an interesting fractal of Gold & Bitcoin, I can't take sole credit as this idea was first brought to my attention by @Azominfinite on Twitter, I suggest giving him a follow!
But a deep dive into the fractal shows pretty interesting comparisons
In 1975, Gold peaked at $1.2T market cap, before a 50% drop, and continuing it's rally until it peaked at a $5T market cap.
In 2021, Bitcoin accomplished a $1.2T market cap, followed by a 50% drop, ?
This overlaid fractal not only suitably fits the price action in the BTC price, but also respects the extended Fibonacci levels from the 2017 peak.
This fractal would predict a BTC top at around $250,000 per coin in mid Feb 2022...
Optimistic? Certainly, but as monetary policy continues to favour inflation hedging assets, and the digital Gold narrative only continues to gain traction - it makes for compelling, albeit dubious speculation!
What are your thoughts on Bitcoin and this fractal?
But a deep dive into the fractal shows pretty interesting comparisons
In 1975, Gold peaked at $1.2T market cap, before a 50% drop, and continuing it's rally until it peaked at a $5T market cap.
In 2021, Bitcoin accomplished a $1.2T market cap, followed by a 50% drop, ?
This overlaid fractal not only suitably fits the price action in the BTC price, but also respects the extended Fibonacci levels from the 2017 peak.
This fractal would predict a BTC top at around $250,000 per coin in mid Feb 2022...
Optimistic? Certainly, but as monetary policy continues to favour inflation hedging assets, and the digital Gold narrative only continues to gain traction - it makes for compelling, albeit dubious speculation!
What are your thoughts on Bitcoin and this fractal?
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