Until recently, gold was considered a safe haven currency, unlike cryptocurrencies, which were considered a rather risky asset,
Gold has been considered a safe haven for hundreds of years, not just recently.
but recently the price of gold has risen so much that it has become unsafe to invest in it, because there is a simple law that if an asset is expensive, then when investing in it, it can collapse at any time.
Like other assets, gold prices can also correct when they peak, but they rise due to geopolitical and economic uncertainty, not speculation. Therefore, as long as the economy remains unstable, gold prices will not fall, and even if they do fall, gold will not be dumped like bitcoin or other speculative assets. Because the biggest holders of gold are central banks and they tend to buy in, rarely sell.
At the same time, everyone continues to invest in gold because they don’t know any other way to save their money.
I think people still choose gold over other assets because they know that it is the best and safest asset in the world.