Yesterday (01/08/2021) gold and silver suffered big losses and Bitcoin kept it's price quite stable, as you can see below:
Do you think that there is a correlation between those precious metals and BTC?
Here's the answer, lots of people are beggining to see BTC as Gold 2.0, the new gold. So it's fair to presume that many people are withdrawing their money on those dated metals to invest on crypto specially on BTC.
That might have some big influence on this strong bull run journey that we are going through. I really do want to see this exchanging between gold and silver investors to BTC.
Yet Gold and BTC still have a marketcap higher than BTC to this day.
So imagine which value BTC can actually achieve with this asset migration, imagine if silvers investors quit and go strong on BTC, the possibilities are beyond imagination.
BTC is really doing well and I'm even surprised that facebook is still toping it on the market cap.