XAU/USD losing ground to Crypto
From 2016 to July 2020 XAU/USD consistently grew, but for the last 6-8months it has been falling.
My theory is that people who bought XAU/USD (Gold) has been converting it to Crypto and with the rise of BTC and ETH it seems like XAU/USD might continue to fall.
Will Crypto end up taking the place of Gold or just share the throne?
I guess that is a reflection of our modern world where Digital Goods and Services are taking the place Physical Goods and Services.
My theory is that people who bought XAU/USD (Gold) has been converting it to Crypto and with the rise of BTC and ETH it seems like XAU/USD might continue to fall.
Will Crypto end up taking the place of Gold or just share the throne?
I guess that is a reflection of our modern world where Digital Goods and Services are taking the place Physical Goods and Services.
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