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RE: Bitcoin (BTC) Morning Update: What Would a Breakout Look Like?

in #bitcoin7 years ago

As always Haejin, thanks for your sharing your expertise. I was watching Coin Mastery today and Carter Thomas was again comparing Bitcoin to the price of gold chart and noting similarities. Since your analysis of the price of gold is bearish, it dawned on me to ask if there is really a similarity between Bitcoin and gold's price behavior and whether Bitcoin may follow the same bearish path as you think is probable for gold. You have noted in the past the possibility (though not probability) of a larger degree of scale abc decline for Bitcoin. Is there anything about the comparison of Bitcoin to gold that we should 'keep in mind'?