Look at this remarkable chart comparing Bitcoin and gold.
The chart below from top Citi analyst Tom Fitzpatrick compares the price of Bitcoin (2013-2017) to the price of gold (1976-1980)…
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Overlay Of Bitcoin Price Action 2013-2017 And Gold 1976-1980
As you can see, if Bitcoin were to mirror the subsequent price action following gold’s peak in 1980, the price of Bitcoin would crash to below $800. Fitzpatrick wasn’t projecting this will take place. Instead he was just illustrating the remarkable similarities of the parabolic advance at the end of the 1970’s gold bull market and Bitcoin’s now famous parabolic surge. Manias always end in tears. It will be interesting to see if the Bitcoin faithful have to endure massive financial destruction of if they have a different fait awaiting them.
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***KWN has also released the remarkable KWN audio interview with Dr. Stephen Leeb, where he discusses what the historic signal will be to backup the truck to buy gold and much more CLICK HERE OR ON THE IMAGE BELOW.
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