Bitcoin price could potentially be following a fractal from gold during the 1970s – the last time inflation in the United States got out of control.
What followed was a more than 700% rally in the precious metal. Will the same happen in digital gold?
Bitcoin Follows Price Fractal From 1970s Gold
Over the last week, both Bitcoin and gold have rallied in the wake of widespread bank runs and failures. Gold is up roughly 10% on the year, while BTC is near a 70% return.
With bank shares plummeting and the top cryptocurrency by market cap rising, BTC priced in banks makes for some of the most shocking and awe-inspiring price charts you could imagine.
That shock and awe might continue, if a fractal BTC is following from 1970s gold continues to unfold. In the 1970s, the United States inflation rate reached over 10% and double-digits wasn’t uncommon through the early 80s.
During the worst of it, gold went on to climb more than 750%…
