This Chart Of Bitcoins Is Bananas, And It Looks A Lot Like The Price Of Gold

Here’s a crazy chart: The price of Bitcoins (the digital currency). (Via Sara Eisen and @Fullcarry)

bitcoins

Photo: bitcoincharts.com

It kind of resembles a very long-term look at gold.

gold

Photo: FRED

Two quick thoughts:

  • The reason it’s interesting to compare gold and bitcoin is that both are kind of seen as alternatives to traditional currencies. Furthermore, it’s interesting to see large patterns repeated over smaller scales. Fractal-like. And since Bitcoin should be on digital speed, it’s poetic to see the gold pattern repeated over such a shorter period of time.
  • Beyond that, the surging value of the bitcoin is a curse. Nobody wants to spend a currency that’s surging, because it will be worth so mch more tomorrow! In the land of the Bitcoin, there’s massive deflation.

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