Gold prices are down, so why the Bitcoin hype?

I saw a report saying that gold prices have fallen in Bangladesh, but I'm not really sure why. Could it be that folks are turning to Bitcoin as a gold substitute? Seems like Bitcoin is getting a lot of love, even in Bangladesh.

I don't expect that the market price of gold should drop like that and be affected in Bangladesh only when other countries are also having the same quality of asset with them and the market is not influenced. When gold falls, it's a general market impact and this affect everyone regardless of the country and we can only see the case of Bangladesh that people are more interested in having Bitcoin as an alternative than fully depending on gold that is centralized and dip market may not be predictable as to when it may fall.

Gold and bitcoin often function as independent safe havens that cater different level of risk, so buying and holding bitcoin do not automatically affect the demand for gold. In fact, both are complementary assets, bitcoin as digital gold and gold is the physical gold or physical anchor. And both have different drivers, yet an increase in price of gold can also be predicted as an increase in price for bitcoin. Bitcoin is never a competitor of gold, and it has never replaced gold from the very start. Bitcoin investment is only an addition to gold in terms of wealth accumulation.

You are making an assumption without having any evidence. Bangladesh has strict rules on bitcoin but even then a lot of the Bangladeshi people are holding bitcoin and are in this forum too earning bitcoin. However this is just the internet bubble you are seeing. The entire country is much bigger than that and they have a good volume of traditional assets that are going to be the major store of value. Gold prices might decrease and it means it is a good time to buy gold if you are interested in.

Why everyone buying bitcoin? Or are people going for bitcoin instead? Bitcoin still fell more than gold in price but gold fell more than bitcoin in marketcap. Gold marketcap is still 20 times higher than bitcoin marketcap. According to my findings, this is not true. Gold is still a store of value. Nothing in reality for now is related to your question. I am not disputing the fact that bitcoin is also a store of value.

Gold has experienced a price decrease in Bangladesh due to global market volatility and reduced local market rate. Both gold and bitcoin which are hedges against inflation are actually volatile in nature, but gold is seen less volatile than bitcoin. Now, since gold and bitcoin are both valuable as they appreciate their value in time, we can assumed that those who are holding gold are most likely taking their part in holding bitcoin. And buying gold or bitcoin is best when their prices are cheap and affordable, so most probably those who hold gold at the moment are also holding bitcoin too, while waiting for their price to surge high again and experience a bullish price.

The paths of gold and Bitcoin are very different, I think it is not only Bangladeshis who believe in investing in Bitcoin, on average and almost all countries on this planet earth, will consider Bitcoin as the core of their future investment. Bitcoin has different appeals, gold also has mixed views, Bitcoin people believe will face halving once every four years, gold is not the case, that's why some of us prefer Bitcoin as their investment asset.

I don't think people are holding Bitcoin as an alternative to gold.  People are holding Bitcoin because it is far more profitable than gold.  If we look at the history of Bitcoin price, we can see its exponential growth compared to gold. Aside from that, Bitcoin is much more convenient as a store of value than gold.  Although it is highly volatile, it can be easily kept and is more portable than gold. So to say the least, Bitcoin is not aimed to be an alternative for gold but for fiat currency, but somehow investors find Bitcoin to be highly profitable so those who understand how Bitcoin market works prefer buying and holding Bitcoin way more than gold.

Gold has fallen in Bangladesh, but it has nothing to do with Bitcoin. Furthermore, gold isn't exactly declining there, as it has only dropped a minuscule percentage compared to its increase over the past year. It's like if Bitcoin was at $120,000 a year ago and you were alarmed because it dropped to $115,000 in a month. Prices are always fluctuating, whether due to economic reasons like the falling dollar or saturation in their own markets, but not directly influenced by Bitcoin usage in the country. There's a difference between the noise of a short-term change and the structural trend over several months.

There is no how people will not prefer BTC than gold, because what is happening to gold that is making many gold investors to start quitting gold investment to BTC investment show that some investors have heard what BTC investors are experiencing from BTC. Now that the price of gold is dumping and the price of BTC is pumping show that it will make many new investors to switch their money to BTC, because they know that they will make big profits in the future. I guess people in Bangladesh will start concluding to make BTC their choice, because the gold they put their trust to make good profit is dumping which they don't have mind to leave the money in gold than to withdraw and invest them in BTC and hodl for long years to recover what they have lost in the past which is possible if they can take the decision now.

The reason why people are moving towards Bitcoin is not as a result of the fact that it's popular, but majorly because it's store of value that has all the attributes of modern reality. The technology behind is far reaching than Gold, although is understandable that Gold has stood the test of time, but it's time we embrace something new and innovative, so the Bangladesh people that are opt-in for Bitcoin know their onion.

You are making  assumptions based on rumors and no prove. As far as I know, there is nothing like regional price for Gold but you may not have good resale value if you have small quantities to sell or exchange from shops. You may even have fine gold and be push to sell lower because most of those shops rely on those profits to survive. Check the price of Gold on the global market cap, it's having just some minor dump from market effect as a result of trade. I don't think there is anything from Bangledash that would have warrant such moves, not that there is any source of information on their local. If you someone told you this, tell him it's not true but of course Bitcoin is popular. If this was to be from Iran, I would have say there could be some connection, people will likely want to protect their wealth from war, you can't move around with heavy metal but you can with a seed phrase and visit any part of the world.

It does not hide the fact that Bitcoin is indeed a popular topic right now, not only in Bangladesh. But I do not know if popularity can influence the way someone invests.  I have a friend who is still young but has never been interested in Bitcoin. All of his savings and investments are gathered in gold.  Bitcoin is not an alternative to gold. It is not only a long-term store of value. Bitcoin has technology that gold does not have.

It doesn't matter where you live; the gold price will be almost the same in all countries. The price may differ based on the tax, but the difference isn't so much. So we can talk about the global gold price, which is also dumping now. Pretty simple: when demand is lower, the price will drop. I can't say people are moving funds into Bitcoin since the price hasn't been moving up. I assume the gold price is dumping due to the war situation. Anything hasn't decided whether war is going to stop permanently or start again. So investors haven't been feeling safe anywhere, neither Bitcoin nor gold; hence, dumping all. However it's gold or Bitcoin; if you have patience, you could make money from both. But Bitcoin's return would be higher than gold's.

I think lately Gold is also as volatile as you can see from the beginning of the year to the current quarter the fluctuation cannot be like gold in previous years before 2025.   Gold and Bitcoin are both value protectors we know that, I have Gold used by my wife and also a few grams of gold bars, and of course Bitcoin is my most portfolio than gold, because Bitcoin always provides a much higher ROI every cycle, this must be prioritized to get more profit.

Bitcoin in Bangladesh is ilegang what I know, those who used to often invest in gold to switch to bitcoin will hesitate, because there is no protection then what if it is caught by the government? Then the risk will be borne by yourself. Although there are still many people investing, but I think they do it secretly, unlike our country where investing in bitcoin is common as long as you never make any payments with bitcoin.

All have a purpose and I think maybe some make bitcoin as an alternative investment but not for me because from the beginning I focused on bitcoin not gold. Indeed, gold has the same characteristics where it always functions as a hedge but until now my interest in bitcoin is still far greater than gold so my focus remains on bitcoin. The hype about bitcoin is indeed very large and it could be in almost every country but in the end those who follow the hype and study it will definitely be more aware that risk will affect the level of trust, those who want to have a slightly lower risk then maybe gold will be the choice but want to have a slightly greater risk but comparable to what we will get afterwards then bitcoin is always the first choice. I don't know how it is in your country but I don't think everyone has bitcoin as an alternative to gold investment because I personally don't feel like it.

If gold price decreases, it doesn't mean that the factors that made the price to crash in values is as results of bitcoin, so if I should ask you op, if Bitcoin price decreases, can we say it’s because of gold..The answer is no, both are digital currencies and their prices is never stable, it devalues in price and also appreciate in prices due to the market demands..... Maybe at this moment investors at Bangladesh prefer investing in bitcoin than gold...And i will not agree that it's because of bitcoin is popular, that's why they switch to invest in bitcoin instead of Gold, but to be honest Gold is more popular than bitcoin.

In Bangladesh, gold is still very expensive and even though the price has decreased a little, the price is increasing more than that. I don't know where you got the information that the price of gold is decreasing in Bangladesh. And I am more serious that why you are so enthusiastic about Bangladesh without analyzing other big countries because I have never seen you in the Bengali community so I don't think you are Bangladeshi. Think about the price of gold in the world market, how much the price of gold per ounce is increasing and how much is decreasing. Bitcoin and gold are not the same thing. Bitcoin is a volatile currency and its price is always seen decreasing and increasing, which is less seen in the case of gold. In the history of Bitcoin, there are times when Bitcoin has decreased by a lot and recovered from there and created new records and this is happening with Bitcoin every time. So those who invest in Bitcoin know that even if the price of Bitcoin drops, it will definitely recover and create a new ATH. So even if the price of gold drops, Bitcoin investors do not sell Bitcoin, because they know very well that if they sell Bitcoin and wait for the price to drop, they will not be able to buy that amount of Bitcoin easily because Bitcoin will become very expensive day by day and no one will be able to buy a good amount of Bitcoin in the future due to the low supply of Bitcoin.

What influence do bitcoin market have directly with gold that can cause it market movement to affects that of gold, I don't agree in that speculations that bitcoin market have control or responsible for the current drop in gold market. Fist we need to understand a few things, gold is most locally dominant both in Bangladesh and the rest of the countries where gold are refined locally, when the raw materials are cheap the price of gold becomes cheap locally and that also impacts the gold global market. There is never a time gold is free from market instability, although Bangladesh have low gold production, but global gold market price still affects the price of gold in each country.