For many volatility and correlation are deal-breakers that prevent a user from utilizing Bitcoin as either a speculative or SoV asset. Bitcoin may have a limited supply but that fact has limited bearing on the asset’s incredibly high volatility. Volatility might be perfect for day traders, but it is definitely not ideal for asset holders who wish to own an asset with a stable value over the long-term. Sharp and unpredictable moves in the market can result in bad experiences for users.
Gold may also considerably increase in price, but the rise occurs within a period of years if not decades. Therefore, gold is a ‘safe-bet’ given that it is unlikely to fall sharply on short notice. Gold is also not heavily correlated to other assets while Bitcoin experiences periods of high correlation. BTC may mirror the price action of assets, commodities, and sometimes even currencies.
I observed that Bitcoin acting similarly to gold at certain times. Bitcoin is a better investment for short-term to realize it's potential, but you also have the opportunity to lose a lot of money. Gold, is a stable investment that is almost guaranteed to return on your investment in the long term.