Compared to USD Is BTC outpacing Gold? With 10x the speed!
While comparing the charts from BTC and Gold and looking for similarities. And I am aware of looking for things, you will find them everywhere (The Number 23 ;))
So, when switching to the weekly view and zooming out on Gold, I saw some resemblance in the charts that looked a bit like BTC from 2017 till now. With a bit of copy and paste and rearrange work, it fits pretty ok.
When making some measurements from tops, bottoms and time between, there are some cases that look the same only in a different timespan.
Without looking at the technical stuff and fundamental stuff, you could imagine that BTC is doing a lot the same as gold does, only 10x faster.
For example:
It took more than 30 years to set a new all-time high for Gold, $1896 in 2011, measured from the all-time high in the 80s around $843. That was around 120% profit.
Compared to BTC it took only 3 years to go from $19850 to $64802 (226%). 10x faster and almost double the gains.
But what goes up, must come down. And how higher they go, the more momentum they will have to dive deep. How does this compare to gold and BTC?
For gold to reach its next bottom 19 years will pass for touching the bottom at $253 in 1999 shedding off 71% of its value. BTC lost 84% of its value in only one year. Hitting $3159 in December 2018. So, after all, BTC didn't drop that hard compared to gold.
It did however in a fraction of time, so it did hurt. BTC falls 20x faster than gold, but keeping its value better. (not an expert)
After hitting the bottom for BTC, everyone was in a crypto bear market. Does this mean that gold was also in a bear market? But then one that lasted already 19 years? Sounds like a winter from hell.
Measured from the bottom of this period, you could say that BTC managed to get back to a new all-time high in 2.3 years, while gold took 12 years to set its new all-time high. BTC outpaced gold with a factor of 5.
Sidenote, from my first measured all-time high in the 80s Gold took 27.5 years for breaking this mark while BTC broke its former all-time high in 3 years. That is again around 10x the timespan.
From the second all-time high, Gold in 2011 and BTC in 2021, to the latest all-time high gold needed 189 weeks to set a new all-time high (+6%) while BTC managed to do this in 18 weeks (+6%). Again, more than 10x faster.
When looking at the latest weeks for Gold, if my comparison holds, then this is promising for BTC.
So, when switching to the weekly view and zooming out on Gold, I saw some resemblance in the charts that looked a bit like BTC from 2017 till now. With a bit of copy and paste and rearrange work, it fits pretty ok.
When making some measurements from tops, bottoms and time between, there are some cases that look the same only in a different timespan.
Without looking at the technical stuff and fundamental stuff, you could imagine that BTC is doing a lot the same as gold does, only 10x faster.
For example:
It took more than 30 years to set a new all-time high for Gold, $1896 in 2011, measured from the all-time high in the 80s around $843. That was around 120% profit.
Compared to BTC it took only 3 years to go from $19850 to $64802 (226%). 10x faster and almost double the gains.
But what goes up, must come down. And how higher they go, the more momentum they will have to dive deep. How does this compare to gold and BTC?
For gold to reach its next bottom 19 years will pass for touching the bottom at $253 in 1999 shedding off 71% of its value. BTC lost 84% of its value in only one year. Hitting $3159 in December 2018. So, after all, BTC didn't drop that hard compared to gold.
It did however in a fraction of time, so it did hurt. BTC falls 20x faster than gold, but keeping its value better. (not an expert)
After hitting the bottom for BTC, everyone was in a crypto bear market. Does this mean that gold was also in a bear market? But then one that lasted already 19 years? Sounds like a winter from hell.
Measured from the bottom of this period, you could say that BTC managed to get back to a new all-time high in 2.3 years, while gold took 12 years to set its new all-time high. BTC outpaced gold with a factor of 5.
Sidenote, from my first measured all-time high in the 80s Gold took 27.5 years for breaking this mark while BTC broke its former all-time high in 3 years. That is again around 10x the timespan.
From the second all-time high, Gold in 2011 and BTC in 2021, to the latest all-time high gold needed 189 weeks to set a new all-time high (+6%) while BTC managed to do this in 18 weeks (+6%). Again, more than 10x faster.
When looking at the latest weeks for Gold, if my comparison holds, then this is promising for BTC.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.