Amid Growing Covid-19 Concerns Is Bitcoin a Safe Haven for US Stock Traders?

[JessicaVL]

With  Covid-19 spreading at exponential rates it is having a major impact on the stock markets and there are growing fears amongst US stock traders. While the US stock market seems to be in a free fall Bitcoin has been on the rise, which accounting to this article, is making it a safe haven for US Stock Traders: https://coins.newbium.com/post/30029-bitcoin-is-a-safe-haven-for-us-stock-traders-amid

With no end in sight, Covid-19 may very well trigger the next global recession but do you think Bitcoin could play a role in rescuing the situation?

[hd49728]

For now, investors don't think like that or it is a short term price manipulation to load up enough bitcoin for whales' portfolios before the next bull run. So far we have not seen a significant movements of capital from stocks to bitcoin and cryptocurrency.

And honestly I don't think bitcoin price will rely on that reason (Covid-19) for its bull run. When it starts bullish journey, it will rise. As you see, weeks ago, when bitcoin surpassed $10k, people talked its rise as a consequence of nCov-19 (named as Covid-19 later), but now they are talking that bitcoin drops below $8k because of Covid-19. Is it ridiculous?

[XCANA]

Particularly when there's spreading of the virus Bitcoin has been seen as a save haven because, it can done or carryout without having crowd onboard either for transactions or otherwise. Bitcoin will experience a positive move once many US stock traders get the fact that; covid-19 spreading can actually be a huge lose to the stock market. When this is clear from them, then Bitcoin will be their safe haven because it is a virtual digital currency. This might not be for the US only but globally, so, much is expected to be see some months to come.

[betty11]

I can not possibly explain why the market is dumping, it ought to be pumping more because of people fear in the traditional market leading to panic liquidation. I suspect this may be some form of manipulation to buy low, and the next is to wake to a sudden pump whereas weak hands would have loss out. Let's be careful not to fall in the hands of whales whose aim is to buy low.

[jossiel]

There will be many who will be confused with the situation and of what bitcoin is showing right now.

They'll think that it's due to the news about covid-19 and everything's affected by it. But no affection nor connection of why this is happening. We're all still looking to the point that it's the whales that are cashing out some profit.

And soon, they'll be back which will make the move upwards.

[btc_angela]

With  Covid-19 spreading at exponential rates it is having a major impact on the stock markets and there are growing fears amongst US stock traders. While the US stock market seems to be in a free fall Bitcoin has been on the rise, which accounting to this article, is making it a safe haven for US Stock Traders: https://coins.newbium.com/post/30029-bitcoin-is-a-safe-haven-for-us-stock-traders-amid

I don't know if you have seen the current market flash crash to say that bitcoin is on the rise.

With no end in sight, Covid-19 may very well trigger the next global recession but do you think Bitcoin could play a role in rescuing the situation?

I don't think that the Covid-19 may trigger the next global recession, as far as bitcoin is concern, bitcoin has not been tested, I would speculate that investors are still going to move their assets to gold, just saying.

[Wexnident]

Possibly. Bitcoin is naturally the one who should be mostly unaffected by the crisis the stocks experience right now, which is in the form of the Coronavirus. Sadly, there is some other factor that is currently affecting the price of BTC, which in the end lead to the current price of below $8k. I'm not particularly sure if the cause of it dropping is the corona virus, but I chose to be on the side of believing it isn't actually the cause. Could be a possible byproduct of the drops in stocks though, which lead to Bitcoin following. Random speculations here tbh.

[DooMAD]

Lazy "journalism" in the loosest sense of the word.  Take whatever story is making the headlines generally and then make a tenuous link to Bitcoin and act like the two are somehow related.  Go away.

[avikz]

With  Covid-19 spreading at exponential rates it is having a major impact on the stock markets and there are growing fears amongst US stock traders. While the US stock market seems to be in a free fall Bitcoin has been on the rise, which accounting to this article, is making it a safe haven for US Stock Traders: https://coins.newbium.com/post/30029-bitcoin-is-a-safe-haven-for-us-stock-traders-amid

With no end in sight, Covid-19 may very well trigger the next global recession but do you think Bitcoin could play a role in rescuing the situation?

Bitcoin is on the rise?? - Have you checked the market since today morning?

The free fall of bitcoin market shows that it can't become a safe heaven. When we try to find a safe heaven, we look for stable price. And looking at bitcoin right at this moment, it doesn't look worthy of becoming a safe heaven.

[sheenshane]

Probably only 15% of us stock traders are familiar with the bitcoin. And I wouldn't personally consider Bitcoin as a safe haven.
Bitcoin's value is very volatile to be considered as a haven. It also has an expensive way of storing compared to the stock market and solid assets such as golds, silver, and realty.

The real safe haven since day one of the corporate world is properties. It is the reality that solid assets are the ones you would always consider as it will never depreciate and is always appreciate its value. And that is the stock trader's option to safeguard their investments.

[BrewMaster]

same as gold (which is rising up fast these days) bitcoin price must have been going up during all these problems in stock market and elsewhere. it may not be as popular as gold but it is a much better investment compared to gold considering security, utility, ease of transfer, privacy, cost to transfer/store/exchange, and a lot more.
but unfortunately it seems like bitcoin market these days is the victim of a huge amount of manipulation attack. maybe from wealthy actors who fear bitcoin could rise up while their empire is crashing down....