#Gate广场四月发帖挑战

The original Bitcoin was far superior to silver and was striving to surpass gold. Now it has fallen to this level.

Short-term: It’s not comparing “value” with gold and silver, but rather competing with all risk assets over who gets sold off first. When liquidity is tight, it’s more volatile and leveraged, so it naturally drops first.
Medium-term: As the market shifts from “contraction” to “expectations of easing,” capital begins to seek scarce assets again. At this point, its narrative—fixed issuance, global circulation, non-sovereign—will be revalued. The market initially prices it incorrectly, then uses cycles to correct this mistake.