Bitcoin is outperforming pretty much every other investment including Gold.
It is far too easy to focus on the last week in the markets and make a comparison,
you gotta zoom out.
Many many traditional investors will still choose Gold as a hedge against inflation and
they might diversify a little into Bitcoin too but when the markets pull back like in the
case of the reaction to the new variant of COVID some investors will sell their Bitcoin
to cover their other investments, so the markets are linked somewhat.
Bitcoin is outperforming gold because were in a 'risk on' macro economic environment now?
We had low interest rates for over a decade now and still have low interest rates and the money printer that favours 'risk on' assets. That's the reason why gold is going down?
When Coronavirus hit the world back in March 2020, soon afterwards gold shot up in price to over $2000 a ounce because it was panic uncertain times then.
If new strains can cause the same panic and uncertainty then can Bitcoin still go up like gold?