RATE Group | Analysis: “Uncanny” Correlation Between The Long-Term Bitcoin And Gold Charts
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Analysis: “Uncanny” Correlation Between The Long-Term Bitcoin And Gold Charts

09 Sep Analysis: “Uncanny” Correlation Between The Long-Term Bitcoin And Gold Charts

Posted at 01:02h in Bitcoin News by

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“Uncanny Pattern Resemblance”

Since Bitcoin’s inception a decade ago, many have likened this decentralized digital asset to gold, with some dubbing Satoshi’s brainchild as a form of “digital gold.” This connection may be drawn due to the fact that the two individual assets are both stores of value, divisible, durable and secure.

Although there are similarities between the two assets that are as clear as day, as recently pointed by Nunya Bizniz, a lesser-known cryptocurrency proponent, there might be an “uncanny” line that can be drawn between the price action of gold and its digital counterpart.

On Thursday, Bizniz took to Twitter to bring up two separate charts, with the first being gold’s 43-year price history and the BTC’s price action throughout the entirety of its…

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