Money flowing into stablecoins is going to lift bitcoin because fundamentally money flowing into crypto is what sustains and raises prices. Both assets have about the same emission as a percentage; the difference being the market cap of gold is about $5 trillion and bitcoin is $0.09 trillion. Credit: GoogleWhen you drill down into mindshare, when you look at interest in the financial news, you can see what looks like bitcoin eating into the interest in gold, at least in the U.S. If you look at the global picture this trend can’t be seen as clearly and when you appreciate global interest in gold is driven by countries with low tech penetration it suggests that as time passes, bitcoin and crypto will increasingly share the flight capital/risk asset crown with gold. Credit: GoogleEven if bitcoin takes 20% of that market, bitcoin will be through its previous $20,000 high.

Source: Forbes April 16, 2019 15:11 UTC