Before the recent selloff, Bitcoin was positioned as the next big thing. Investing and trading legends like billionaire philanthropist Paul Tudor Jones say it is like investing in Steve Jobs’ Apple early, or like getting in on the ground floor on Google.
A new comparison suggests that even the latest price action is very much like if you had bought Google early. Here is a closer look at the shocking comparison along with the happy ending that should give crypto holders feeling uneasy some comfort.
Bitcoin Versus Google Comparison Predicts Bull Finale Ahead Of Recession
Bitcoin is a hard subject for many to wrap their head around. The lack of a physical object associated with the asset makes it feel more akin to magic internet money.
Those who do properly comprehend the cryptocurrency’s potential, compare it to like investing in a piece of the internet. It has also been compared to investing in Apple or Google early. However, a new comparison inspired by technical analyst Gert van Lagen shows just how accurate that statement might be.
BTCUSD compared to Google during prior to The Great Recession | Source: BTCUSD on TradingView.com
On the left, is the last decade plus of Bitcoin price action. On the right is Google just ahead of The Great Recession. With a recession possibly ahead of us, the comparison isn’t without merit.
The Happy Ending For Google: A Search Engine Giant Emerges
The above comparison has been changed from the analyst’s initial interpretation, but…