Here are 4 quartly log charts. Gold in usd and nzd. Bitcoin in usd and nzd. Note the difference? I believe the delta we see is “store of value”. Gold protects you in ANY currency. Bitcoin… for some reason doesn’t… Wait.. it is NOT a store of value, but mainly a speculation instrument.

Here is gold in usd.. closing in on all-time high breakout.

Here gold in nzd.. already wayy above all-time highs.. as the Kiwi has been depreciating alot lately.

Here is bitcoin in usd… also closing in on all time highs… (quarterly defined is about 14k)

So you’d expect bitcoin expressed in kiwi to be waay above breakout line ? WRONG… looks about like usd chart.

Why is that? Doesn’t mean btc can’t breakout… it’s actually trending upwards on the higher time frame (quite bullish)… but it’s being mis represented as a store of value…

ANYBODY in New Zealand would tell you different!

Adding two charts:  BTC expressed in ANY currency is 100% correlated. WHY IS THAT? Or why is gold not doing that?

What am I missing?