Analyst Defends Crypto: Gold’s $12T Rise Shows Speculation Drives All Markets

In a detailed thread on social media platform X, analyst CrediBULL Crypto directly challenged the notion that speculation is a flaw unique to cryptocurrencies. The analyst pointed to the precious metals market, where gold’s valuation soared by approximately $12 trillion over a 12-month period. “Fam you think the intrinsic value of a gold rock magically increased by 100% over the last year?” CrediBULL questioned rhetorically. The argument posits that this monumental increase occurred without any fundamental change in gold’s industrial or practical utility, attributing the move primarily to market sentiment and speculative capital flows.

CrediBULL extended this logic beyond commodities to the equity markets, specifically citing technology stocks trading at high price-to-earnings (P/E) ratios. The core thesis is that speculation is not an anomaly but a foundational force in global finance. The analyst’s perspective reframes the conversation: if gold, a centuries-old store of value, and flagship tech equities can experience massive valuation shifts driven by expectation, then dismissing crypto markets for the same behavior is inconsistent. This defense arrives as the broader crypto market, including major assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL), works to stabilize after a recent downturn.

Building on the premise of universal speculation, CrediBULL Crypto presented a compelling numerical case for crypto’s potential upside. The analyst highlighted the “tens of trillions of dollars of speculative capital” currently residing in adjacent markets like gold and equities. From this vantage point, the entire crypto sector’s approximate $3 trillion market capitalization appears relatively modest. “Why are you worried about some drawdown when we are sitting at a 3T marketcap which is peanuts in the grand scheme of things?” the analyst asked.

The argument suggests that even a minor reallocation—less than 1%—of this vast speculative capital from traditional havens into digital assets could theoretically double the crypto market’s total value. When community pushback emerged, with some users claiming “90% of crypto is worthless,” CrediBULL retorted that investors should simply focus on the perceived value within the top 10%. To the question of what would attract this capital, the analyst pointed to price momentum itself, stating that “green candles,” or rising prices, are the primary catalyst that can create a self-reinforcing snowball effect of investment.

The philosophical debate over speculation’s role coincided with concrete developments and forecasts from established financial institutions. Fundstrat’s Head of Research, Tom Lee, predicted that Bitcoin could reach a new all-time high by the end of January 2026. Lee’s outlook hinges on a broader macroeconomic shift, anticipating a rebound in equities aided by a more dovish Federal Reserve, which would improve sentiment across all risk assets, including crypto. He also drew a parallel between recent leverage wash-outs in crypto markets and the reset following the FTX collapse in 2022, suggesting the sector may be nearing a stabilization point.

Simultaneously, institutional adoption took a significant step forward. After years of notable reluctance, asset management titan Vanguard opened trading for spot Bitcoin ETFs, as well as funds for Ethereum, XRP, and Solana, to its vast client base of 50 million investors. This move represents a major shift in posture for the traditional finance giant. While overall ETF flows have been mixed recently, steady inflows into products from other large players like Fidelity and ARK Invest indicate that institutional interest has not waned despite market volatility. These developments provide a tangible counterpoint to pure speculation claims, showcasing growing integration within the conventional financial system.