alt Hacker NewsYou can call it emotionally driven, but if it’s taken as a fact that the dollar is and will continue to lose value ( and the president is incentivized to pump the price of Bitcoin, whatever level of hell/episode of Mr Robot that is) - then you should expect gold to go up infinitely, relative to a worthless dollar. People aren’t necessarily trading out of fear, just trying to predict the future.
But the perception of future worthlessness of the dollar cannot actually make the dollar worthless. It doesn't work like that.
In a theoretical scenario where there are many competing substitutable currencies it should work like that, but we are not in that theoretical scenario, are we?