PANews reported on October 19th that according to Caixin, Minsheng Securities macroeconomic analyst Shao Xiang stated that Bitcoin could have been a significant competitor to gold in the fiat currency era, but its continued high speculative nature has led to a recent significant pullback. Bloomberg investment columnist John Authers noted that the performance of gold and Bitcoin has diverged significantly during two recent periods of market stress (one in April and the other in recent days). During these periods, gold prices remained stable or even rose, while Bitcoin plummeted. This suggests that when risk events strike, the market still classifies Bitcoin as a "risk asset," while gold is considered a "safe haven asset."