For Bitcoin (BTC) to go up the NASDAQ Must Go Up

Peter Schiff shared: For Bitcoin to go up the NASDAQ must go up and gold must go down. For that to happen the Fed must succeed in bringing inflation down to 2% without harming the economy, which requires minimal rate hikes and big cuts to government spending. But in that scenario why own Bitcoin?

Community Response:

So gold has been going down for the past 13 years?

I’m referring to the more recent correlations that Bitcoin has developed.

I wouldn’t take investment advice from someone who even failed to convince his son to invest in gold. Most kids see their parents as role models. Peter Schiff seems to have failed there.

We disagree. Bitcoin doesn’t need to go only if gold goes down. Gold and Bitcoin are hedges to FED inflation tactics and over the long term, you’ll notice Bitcoin going way up compared to gold as gold has failed time & again as money.

There is absolutely nothing in this world worth holding onto for the long term, given everything could be created more of given enough time, resources & demand except for Bitcoin. Eventually, most assets depreciated compared to Bitcoin (The Pristine Digital Capital).

Bitcoin is supposed to make you filthy rich with minimal effort. You just have to buy and hold, and then hope that more people buy after you. The more people that buy the higher the price will go up. Everyone can be rich and happy forever.

Sold BTC before Christmas & been buying a bunch of gold…it’s physical, I own it…when Russian & Chinese commandos are kicking down my door at least I’ve got something to offer…

You shouldn’t put bitcoin in the same category as tech stocks. Market correlations generally aren’t absolute, and they change over time. Bitcoin will appreciate simply because it will be the global reserve currency.

I’ve noticed the time horizons have moved out as the Bitcoin narratives fail to become reality, it was a store of value, then an inflation hedge, now it’s reserve currency on some distant yet-to-be-defined horizon. With time on your side, you can never be proved wrong.

If I want flat returns over the next 10 years do I just buy gold? It was flat over the last 10 years, so I am guessing I’d expect the same performance. Bitcoin has a fixed supply and will go up in value over the long term.

NASDAQ sure. Gold doesn’t matter for BTC, nobody cares.

By what possible logic or analysis have you decided by which this is the only way Bitcoin goes up? Lol, why not do a historical test of that hypothesis & see how that correlates? We’ve got 13 years of data for it.

You can’t know that. Whatever methodology you are using has been dead wrong for years. For Bitcoin to go up all we need is more buyers than sellers.  This occurs as more people continue to see sound, limited supply money as an alternative to phony inflated fiat.

If you’re pro gold why must you be so anti-Bitcoin? You don’t have to call one person ugly to appreciate another’s beauty… only those with deep insecurities act that way.

I’m sure it’s nothing to do with the increasing irrelevance of gold.

There’s not enough bitcoin for every millionaire today to own half a bitcoin. As each new person understands this, demand rises. Supply is unaffected by this new demand. So, in the long-term, the price continues to rise, and you continue to be wrong.

Let me ask you this, is gold inflationary? The resources on earth are limited, right? Why have gold? For jewellery? Does anyone know exactly how much gold is left on the planet? Everyone knows how much BTC is left on the planet.