Bitcoin appears to be continuing emulating Nokia 's chart pattern. Don't know how much it is credible but this correlation fits nicely together and would be interesting to see it works out.
Very interesting. Nice work. BTC, however has a completely different fundamental underpinning. 61.8 % should soon be support in a more complex larger 3.
BergenBorgen
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Agree, similar structured pattern with XAU is here.
Why Nokia? Nokia happened to be the largest R&D companies in mobile communications. BTC also happens to be the testbed for the future e-financial instruments.
Corben
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Bitcoin is a limited share on everything while Nokia produced a phone that did not keep up to technological advances in an unlimited supply market
Cetan
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Yeah uh correlation is not causation. Lol.
Phone manufacturer and cryptocurrency correlation? I don't think so.
etnips7
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Good comparison but no.
DanV
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Thanks for your chart, Interesting comparison. Many instruments display such an anatomy of price following a bubble so similar price action might be more prevalent than many might consider possible.
I noticed such similarity in Gold & Bitcoin which seems to have held for considerable time, though now it appears to have moved away from that since Bitcoin has made substantial retracement of decline (shorter cycle) and Gold is still far from its 61.8% retracement. Here is the chart