The Cryptopia Hack: An Inside Look at a Digital Gold Heist
## Bitcoin – Striking Similarities to Gold
Bitcoin is commonly viewed as a form of digital gold and both gold and Bitcoin do share a lot of similar properties. This means that interesting insights into Bitcoin can be gained by looking at the impact that the introduction of a gold ETF had on the gold price.
**Need to be convinced that gold is indeed similar to Bitcoin?**
[The golden brothers](https://i.redd.it/441of4uu1am11.png)
**So, what happened when the gold ETF was finally launched?**
Well, it kick-started the biggest bull run in gold’s history. Prices rose from just $331.60 per ounce to a high of $1,917.90. That’s an incredible **478% increase in price after the gold ETF was launched.**
[We are all hoping for an encore](https://i.redd.it/xv24jye42am11.png)
The interesting thing about the history of gold and Bitcoin is that both got futures contracts before an ETF was launched. In both cases, there was a big increase in price before the futures markets opened and there was a significant fall in the price of both assets when futures trading actually began.
For a more detailed writeup, check out the complete article – [https://totalcrypto.io/bitcoin-etf-analysis/](https://totalcrypto.io/bitcoin-etf-analysis/)