Analysis: 'Book Closed' On Bitcoin Vs. Gold Debasement Trade
Analysis suggests Bitcoin has failed as the 'debasement trade' as gold and silver hit new all-time highs.Summary
New analysis by Karel Mercx of Beleggers Belangen concludes that Bitcoin (BTC) has failed as the preferred "debasement trade" against fiat currency dilution, evidenced by its underperformance against gold. As precious metals like gold and silver reached new all-time highs, BTC was trading near two-year lows relative to gold (below 20 ounces). Mercx stated that the narrative is broken, with investors choosing gold and silver over the "digital experiment." This sentiment is echoed by other commentators, such as Benjamin Cowen, who noted gold's strong performance against the S&P 500, suggesting a potential major shift in market environments if this trend continues. Mercx had previously declared Bitcoin's four-year price cycle dead, noting each cycle has been weaker than the last when priced in gold.
(Source：Cointelegraph)