The Bitcoin price in US dollars has begun exhibiting a trend which closely mimics the price history of Germany’s Papiermark during hyperinflation.
Against Fiat, Bitcoin Follows Gold’s Price Trajectory
A summary chart uploaded to social media by the cryptocurrency analysis account planB compares BTC/USD over the past eight years with the Papiermark’s value versus the previous gold mark.
Germany abandoned the gold mark in 1914, shifting to the Papiermark, which subsequently became a symbol of hyperinflation in the early 1920s.
As the chart data shows, the past eight years of BTC/USD performance is eerily similar to the last five years of the Papiermark’s devaluation – from the end of the First World War in 1918 to 1923.
During that time, the government of the then Weimar Republic printed paper banknotes in ever increasing quantities.
Last 8 years USD lost 99.98% .. against BTC #bitcoin pic.twitter.com/Dx8RuJBdbw
— planB (@100trillionUSD) March 17, 2019
“What is really interesting is that the Germans in 1918-1923…