As usual, whenever crypto or the stock market takes a hit, Gold reaches a new all-time high.

Sometimes I feel like the older generations were even better than us; whenever they had money, they bought gold, and gold just kept increasing, never losing value.

Meanwhile, we are into SEO, crypto, and various kinds of virtual currencies.

Do you know the essence of why?

Gold can be simply understood as what people often call a safe-haven asset (an asset against inflation).

Suppose the government prints too much fiat currency, causing it to depreciate; gold always retains its value better than cash because its supply is limited.

-> In times of financial crisis, war, or economic instability, the flow of money will pour into gold (it doesn't depend on any company or anyone).

$BTC is the same, so people consider $BTC as one of the digital gold assets (though now it's also experiencing some fluctuations). Because $BTC is also limited to 21 million coins, and Satoshi is long gone somewhere.

-> BELIEVE in $BTC, while altcoins are just for playing around.

Additionally, major countries always stockpile gold to protect their economies. When central banks buy in, the supply of gold in the market decreases -> demand increases -> prices also surge instead of just fluctuating like others.