Is Bitcoin Following An Explosive 1970s Gold Fractal?

The world of cryptocurrency is constantly evolving and Bitcoin has been making huge strides in recent years. There is now speculation that the price of Bitcoin is following an explosive 1970s gold fractal which could ultimately lead to new all-time highs. This exciting development is drawing attention from investors and traders alike, as they try to predict the future of Bitcoin and how it compares to gold. In this article, we’ll explore this theory in more detail and examine the potential implications for the cryptocurrency market.

Could Bitcoin be following in the footsteps of gold’s price rally during the 1970s when inflation in the United States was out of control? The precious metal went on to experience a 700% increase. Will the same happen in digital gold?

Over the past week, there have been widespread bank runs and failures, causing Bitcoin and gold to rally. Gold has seen a 10% increase in price this year, while BTC has returned nearly 70%.

Bank shares are plummeting, and Bitcoin’s market cap is rising, which creates a compelling and breathtaking price chart linked to bank shares.

If the price fractal BTC is following from 1970s gold continues to unfold, the shock and awe might continue. During the decade, inflation in the United States reached over 10%, and double digits were not unusual through the early 80s.

During the worst of it, gold went on to climb more than 750% from $100 to $850 per troy ounce of the precious metal. That same price fractal could potentially return with Bitcoin, along with soaring inflation.

During the 2020 bull run, billionaire investor and philanthropist Paul Tudor Jones famously said that Bitcoin could be the fastest horse in the race against inflation, referring to 1970s gold.

When inflation first appeared, Bitcoin’s price corrected heavily. Still, after two years, it has started to show resilience. In the future, it could prove to be the digital equivalent to gold in the ’70s- helping investors beat inflation or a banking crisis.

In the price fractal, gold finished a wave 5 after an expanded flat correction, according to Elliott Wave Principle. In the commodities market, wave 5s tend to be stretched. With BTC classified by the SEC and CFTC as a commodity, could the crypto asset perform similarly?

If Bitcoin follows the same path with a 750% return from recent lows, it could ultimately take it above $132,000 per coin. Could this be what’s ahead for the first-ever cryptocurrency?

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