Bitcoin Could Copy Gold’s 2008 Boom And Bust Before All-Times Highs: Messari

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Bitcoin could drop dramatically in the short term before experiencing an historic rise to new heights, one of the cryptocurrency industry’s best-known researchers says. Bitcoin Mimicking Gold ‘Not Surprising’ Adding his weight to the current discussion on Bitcoin’s utility versus gold, Dan McArdle, co-founder of analytics firm Messari, said the cryptocurrency could copy the precious metal’s behavior in the coming years. Specifically, he said in social media comments on August 7, BTC/USD might repeat what gold did after the 2008 financial crisis. “I would not be surprised if BTC performs like gold did 2008-2011,” he wrote. Initial spike on fears of crises, big fall as liquidity crises actually sets in, followed by [an] even bigger rise as real debt/sovereign/currency fears take hold. McArdle referenced fresh comments on gold by Raoul Pal, the serial asset manager who recently presented a buoyant outlook for both bitcoin and gold on the Stephan Livera…

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