It is clear that Bitcoin is not like Gold. This phrase is true today more than ever. I have made other posts in the last month talking about this topic and how Bitcoin seemed very correlated with the capital markets. And I was not wrong.
Yesterday Iran attacked Israel and it seems that the war is already underway. A regional conflict that will impact the world and the financial markets. When these events occur, the markets fall due to uncertainty and fear of the repercussions. The most conservative funds withdraw while waiting to see how events develop. And yesterday Bitcoin did the same, it had a big drop. It behaved like any stock in any stock market index in the world.
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This was not the case with Gold, which on the contrary rose as a safe haven asset. As you can see in the graph, Gold does well with bad news.
This makes it clear that if someone wants to protect themselves they should continue buying Gold and if someone wants to invest in an asset with a future they should buy Bitcoin.
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