I believe the thing with gold going down was very temporary. Gold is a strong and reliable asset, with a very long history. It's not going to outperform Bitcoin in the long run, but it will likely remain a safe bet for those looking to preserve and slightly increase their wealth. Bitcoin is just experiencing a particularly good time, but others are right to warn of a bear market, during which Bitcoin can easily lose over half of its value. Gold, on the other hand, is likely to remain strong, climbing gradually up, albeit very slowly.
Gold is a really strong asset that the rich will always, I repeat always, be ready to buy from the poor. After all, a rich person has everything, and he will be happy with gold trinkets. But there is one thing. Gold is not practical - it is difficult to pay with it, because you cannot separate a part of it, it is easy to steal from an individual. But Bitcoin, although you cannot hold it in your hands, can be used to pay anywhere in the world, it is easy to store, and it can multiply itself! Therefore, it is possible that the meaning of gold will be reconsidered from a practical point of view.
Rich people love gold and always want to accumulate gold not only to make jewelry but they also need a place to store value and gold meets their needs. Meanwhile, most of us choose bitcoin because we are not rich yet and our capital is not too big but we want to become rich like that rich person. It can be said that different financial circumstances will have different choices, so gold or bitcoin will also have its own customer groups.
But I disagree with you when you say gold is not practical, a highly priced asset and used for thousands of years, how can you say it is not practical? Also, how can you use bitcoin for payments if the government doesn't legalize it or merchants don't accept it or you don't have internet?
Both have their pros and cons, no need to be biased my friend.
Speaking about the impracticality of gold, I mean that even in ancient times it was noticed that it is soft, and neither a sword nor a sickle for harvesting can be made from it. In general, you understand - I mean practicality in everyday life with use in practical needs. I know very well that in our time gold is used in electronics and the like, but this is now. Bitcoin is a great asset, and I am glad that it is available to everyone. Although I always smile when I hear colleagues at work talking who are not knowledgeable in cryptocurrencies. They think that Bitcoin is bought individually without dividing into parts (satoshi).
