The Bitcoin to gold ratio has dropped to a similar level in Nov 2017.
Source: XE.com
Notably, Nov 2017 was the period from which Bitcoin started its exponential growth in that year.
Source: CoinbaseCap
While technical analysis suggests that Bitcoin appears to be entering a bear market in the short run, fundamental analysis using Bitcoin to gold ratio suggests that Bitcoin's valuation has now come down to a pre-peak level.
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