Bitcoin (BTC) Finally Catches Up With Gold After Following It For Years

During the 1976 IMF Crisis also known as the Sterling Crisis, the British Government had to borrow the largest ever loan of $3.9 billion from the IMF. During that year, Gold Futures began to rally and the climb continued all the way till 1979. We have only seen one similar rally in Gold Futures and that was the one beginning in 2001 after the dot com bubble. Gold kept on climbing throughout the financial crisis of 2008-09 and finally topped out in 2011. Since then, Gold has been in a downtrend but things are about to change. After Gold’s previous downtrend, it traded sideways for 15 years, but this time we do not have 15 years. The next global financial crisis is going to strike this year or the next few years and investors are already making preparations.

Bitcoin (BTC), just like Gold was meant to serve as a hedge during periods of financial turmoil. After the crisis of 2008-09, Satoshi Nakamoto published his whitepaper on Bitcoin (BTC) and the early developers and miners took it from there. We have not seen any financial crisis since then to say for sure that Bitcoin (BTC) will behave like Gold during a financial crisis. However, we have seen Bitcoin (BTC) following Gold’s moves in the past. Interestingly enough, Bitcoin (BTC) has now fully caught up with Gold. Bitcoin (BTC) has followed Gold on a much smaller time frame which and has still caught up with it. In fact, it wouldn’t be wrong to say that Bitcoin (BTC) is like Gold on steroids.

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