Where I think a huge chunk of Bitcoin inflow is coming from

A chart Peter Schiff does not want you to see.

Bitcoin is no doubt David in the fight against safe haven goliath gold . Bitcoins market cap is growing at an incredible rate, and I imagine as seen in this chart there have been a lot of selling into BTC . Let's now view it below with a gold cryptocurrency.


I think the cannibalization of gold with bitcoin is a longer term trend although I do agree its a trend which can happen.

I feel the slide on Gold since it's peak has more to do with rising bond yields and that gold is primarily used as a "risk off" asset where the markets are clearly going risk on.

On a long term demographically view I agree gold will lose some steam to bitcoin since generationally younger people will have more acceptance of a digital asset then earlier generations like Boomers.
+1 Reply
ZenMode Kazparov
@Kazparov, I agree with you for sure, in the chart prior to this one I tie in TIPS as being a lead culprit for price action like Friday.
Also plan to shift from gold to bitcoin especially after today’s rigging
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very possible friend
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Absolutely 🙌
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