Bitcoin in a strong gold era

Just listened to a natalie brunell interview with Kevin Wadsworth and he makes an argument that all of bitcoins' existence has been in a pro-stock market / anti-gold phase of the market. He discusses past rotation events where gold hammers the sp500 and that it takes years for sp500 to get back to prior highs. He is concerned that we are in the early innings of an event like this, and that since bitcoin is almost entirely correlated to the NASDAQ that bitcoin will struggle to make new ATH again. Any good counter-arguments to his thesis???