Analyst Destroys Argument That Cryptocurrencies Are Just Speculations With Gold Chart

Even a small portion of speculative capital from gold or tech stocks could double the $3 trillion market capitalization of cryptocurrencies.

Bitcoin (BTC) bulls and skeptics clashed on

This defense comes at a time when the cryptocurrency market, worth a total of around $3 trillion, is trying to emerge from a recent recession and looking for catalysts to reignite growth.

Market limits, speculation and arguments for the advantages of cryptocurrencies

In a thread posted on

“Family, do you think the intrinsic value of a gold rock magically increased by 100% over the past year?” CrediBULL challenged. “The $12 trillion added to gold’s market value over the past 12 months is due to speculation.”

The market watcher extended the logic to tech stocks that trade at high price-to-earnings ratios, stating that speculation is a universal market force, not a flaw unique to cryptocurrencies.

Its central thesis is that there are “tens of trillions of dollars of speculative capital” in these adjacent markets, and if even less than 1% were to flow into cryptocurrencies, it could double the total value of the sector.

“Why are you worried about a drawdown when we’re sitting on a 3Q market cap that’s a pittance in the grand scheme of things?” asked the merchant.

Community reaction was mixed. Some users questioned the logic, with one asking for the simple reason that cryptocurrencies should attract capital. CrediBULL responded that the best catalyst for hot money is “green candles,” or rising prices, which can create a snowball effect.

Others argued that “90% of cryptocurrencies are worthless,” to which the analyst responded that investors should simply focus on the 10% with perceived value.

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Broader market context

The discussion landed on the same day that Fundstrat’s Tom Lee predicted that Bitcoin could hit a new all-time high by the end of January 2026. He said he expects stocks to rebound with the help of a more dovish Federal Reserve, which could improve sentiment in risk assets.

Furthermore, he compared the recent leverage losses to the 2022 reset after the FTX collapse and believes that cryptocurrencies may be close to stabilizing.

Meanwhile, institutional interest has continued to gain pace. On December 2, Vanguard opened BTC, Ethereum (ETH), XRP, and Solana ETF trading to its 50 million clients, its first major move into the sector after years of reluctance.

The asset management giant’s announcement came even as ETF flows remain quite mixed. However, continued fund inflows from Fidelity and ARK show that the big players have not completely stepped back despite the recent volatility.