5 years is a long time Jay, and being we're talking about the lackluster performance of Bitcoin this cycle, going back even further just proves the point more.
I doubt that zooming out further supports your case more rather than my case, even though I agree that there are ways that we could spin matters to describe what we would like to argue, and I am not even saying that you are being dingenuine, since you can truly believe what you are saying and seeing in the data.
Sure, it is possible that bitcoin only had the advantage of its early adoption phases, and so in that regard, bitcoin has been outperforming gold due to the advantages of early adoption (starting from a price of zero, etc. etc).
At the same time, I would expect anyone who is actually following bitcoin and trying to appreciate what bitcoin offers are going to recognize and appreciate that bitcoin is far from peaking out as if it were a maturing asset, and instead bitcoin is quite likely going to continue to take market share from gold, even if there might be some bumps in the road and even if gold might have some various momentum advantages that might help it to outperform bitcoin in the short-to-medium term.
I frequently proclaim that when we are deciding to get into bitcoin (or if we are making any additional bitcoin purchases), we need to be considering our bitcoin purchases in terms of 4-10 years or longer, so if we were going to make a bet about bitcoin versus gold, then we can talk in terms of 4-10 years or longer.
Also, in many forum threads we are talking about the dollar/bitcoin pair, so in that sense, much of my analysis are in those kind of frameworks, even though I also consider bitcoin to be amongst the best, if not the best of places to put our money, even though various assets are going to perform different, whether we are referring to gold or properties, or stocks or other places that we might alternatively choose to place our value rather than putting it in bitcoin.
Accordingly, in the diversification, I frequently suggest that guys should not be putting any more than 10% of the size of their bitcoin in gold, and even 10% might be too much.. . .more like 2% to 5% - for the Armagaeddon scenario.. .. but yeah in the end, guys can do what they want, even though I have a bit of conviction that bitcoin is going to continue to eat gold's lunch, I am not sure about how far various gold bugs (and/or dinosaur institutions and/or governments) might stay uninformed and/or irrational on such topic... so in that regard, I am not sure the extent to which I can see a possible bet, except to suggest pumping shitcoins, including gold, is not exactly on topic here, even though at least there are some attempts to make the topic as a bitcoin versus gold comparison.. but what is stopping doing that with any shitcoin, besides the dollar which is our trading pair topic of this thread.
5 years is a long time Jay, and being we're talking about the lackluster performance of Bitcoin this cycle, going back even further just proves the point more.
I see gold as the ultimate hedge against monetary inflation: nothing more, nothing less. In the very long run, I'd expect Bitcoin to keep up with inflation: it simply can't keep going up in value indefinitely.
It's going up forever, Loyce.
I know, I am so original.But I must say I'm surprised to see Bitcoin more or less reached that point (against gold) for the past 5 years now. I'd say it's far too early for this, and I still expect Bitcoin to outperform gold for many years to come.
Holy fucking shit.
You are accepting that 5 years framework, too? If we go with a 5 year framework, then more or less we are picking bitcoin's peak of the 2021 bull run, more or less, and then claiming that such price movements are representative of bitcoin prices (market cap) versus gold?
I have my doubts picking bitcoin's previous top as our starting point for our measuring period, and similar if we were to go from the 2017 bitcoin price peak, and we were to proclaim that bitcoin has not gone up very much since 2017 as compared with gold.
There are probably ways to compare gold's 200-WMA to bitcoin's but I don't have the gold data (and I don't want to do the homework), even looking at AI... the 200-WMA in gold might have doubled in the past 5 years.
At the same time, bitcoin's 200-WMA has gone up nearly x in the past 5 years (from
$6,853 in October 2020 to $53,850
1. This cycle is over
2. The earth is flat
3. Bitcoin doesn't care
4. All of the above
Cats and dogs living together in harmony.
Another all time high today for Gold.
Dow, S&P500, NASDAQ all up after open today.
Come on Bitcoin FFS.
A watched pot never boils.
