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