Why Does Gold's Market Cap Act Like a Meme Coin?

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#1Feb 13, 2023, 07:16 PM
Hey everyone, So I've been thinking... we always hear that once Bitcoin reaches gold’s market cap, it’ll be more stable. But gold’s almost at $40 trillion and it’s acting all meme-y. Like, what’s up with that?
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max365Newbie
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#2Feb 13, 2023, 11:34 PM
Right? Everyone expected gold to chill out. But nah, it’s like it just tripled its market cap overnight. Feels like the Fed just printed a ton of money to buy gold directly.
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WildWolfMember
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#3Feb 14, 2023, 12:47 AM
They’d rather use that money to boost gold than Bitcoin, though. Honestly, market cap doesn’t equal stability. There are so many factors at play that keep Bitcoin bouncing around like a pinball.
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SilentOrbitSenior Member
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#4Feb 14, 2023, 02:42 AM
Totally agree. And even if they wanted to buy all the Bitcoin, they can’t just scoop mine up. I’m holding onto mine for dear life. Manipulating prices is still possible, even with a big market cap.
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#5Feb 14, 2023, 07:05 AM
Look at gold since 2013... That drop recently? Doesn’t look like a memecoin, right?
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#6Feb 14, 2023, 12:52 PM
Exactly! So how can we actually use Bitcoin as money when it’s this volatile? Maybe we should think in sats instead of dollars.
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SilentOrbitSenior Member
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#7Feb 14, 2023, 05:13 PM
10% swings in a $40 trillion asset? That’s wild. Who’s behind this surge? Central banks gotta be involved.
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WildWolfMember
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#8Feb 14, 2023, 10:50 PM
Of course gold isn’t free from speculation. There’s just too much cash floating around, and after all the bubbles we've seen, it's ripe for a correction.
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nick_hawkMember
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#9Feb 15, 2023, 03:51 AM
In my view, Bitcoin’s time as a currency is pretty much over. It was a good run, but it failed too many times. It shines more as a store of value now.
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BasedHashNewbie
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#10Feb 15, 2023, 09:50 AM
Yeah but even if someone had the cash to buy all Bitcoin, they wouldn’t get all of it. People are holding tight, waiting for the right moment to sell.
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WildWolfMember
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#11Feb 15, 2023, 01:50 PM
Don’t buy into what influencers are saying about the four-year cycle being over. Bitcoin won’t chill out until all 21 million coins are mined. Then the market dynamics will change.
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0xGuruNewbie
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#12Feb 15, 2023, 07:03 PM
When people mention 'currency', they usually mean legal tender stuff like in El Salvador. It’s making progress but not as quickly as some hoped.
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tom51Full Member
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#13Feb 17, 2023, 12:41 PM
Gold’s market cap rising doesn’t just mean ‘let’s print more money’. Investment flows can shift due to global events. Gold’s a solid hedge for centuries.
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0xRocketMember
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#14Feb 17, 2023, 05:47 PM
Right, and if Bitcoin was spread out among a bunch of holders, it might stabilize more. But too many big players hold too much.
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0xNodeMember
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#15Feb 18, 2023, 09:32 AM
Speculation is everywhere. If a bunch of big players decide to sell at once, the price takes a dive. That’s how markets work.
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CyberLynxMember
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#16Feb 18, 2023, 03:51 PM
Seems like everyone’s treating gold like a meme lately. It’s frustrating to watch.
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matrix2015Full Member
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#17Feb 18, 2023, 07:00 PM
Bitcoin was never meant to be a stable currency. Its value swings are just part of its nature. The idea that it’ll stabilize at $40 trillion is wishful thinking.
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#18Feb 20, 2023, 06:46 PM
Haha yeah, that’s some serious denial. People really think everything will just settle down magically.
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kevin_bridgeFull Member
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#19Feb 23, 2023, 05:09 AM
It’s a mess right now. With all the leveraged trading, gold is just bouncing back to where it should be after clearing out bad positions.
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#20Feb 23, 2023, 08:39 AM
High market caps don’t guarantee low volatility. If gold’s still swinging with a $30 trillion cap, why would Bitcoin be different?
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