but gold is priced in dollars, so help me out here.
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Paging @Hanshan lol
since gold is also priced in dollars, then the graph is of the relative dollar investment in gold and bitcoin ain't it?
"price" is just a measure of number of Unit of Account chasing a particular commodity right?
so when the UoA is a fiat currency and everyone is seeking a safe haven for their purchasing power, the USD-denominated BTC/gold chart shows the comparative USD investment in those things.
if you're interested in gold vs BTC investor sentiment its important data
but otherwise.... meh
This chart is measuring the end of an era
All relative. One could also say that dollars are priced in gold depending on their perspective.
For example, I measure dollars in bitcoin, not the other way around.