Is Bitcoin still a good store of value <Safe haven>?

[boyptc]

Seeing as the price today is $11,300, if you got into bitcoin on 7th Feb as a hedge against the markets, you have done spectacularly well!

I'm thinking the same but the price is getting down again at $10,600.

of course not , btc price is very volatile it went from 20k to 8k

For me, it is. But if you are in a hurry and you are taking profits immediately, bitcoin as store of value won't work for you.

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[Hydrogen]

Is Bitcoin still a good store of value <Safe haven>?

There's an old (and not very funny) joke which might be applied here. It goes like this...

Two surfers are sitting in the ocean. Out of nowhere they see the massive fin of a great white shark coming straight towards them. One sufer begins paddling for the beach. The other smirks, shakes his head, looks at him and says: "do you really think you can outrun a great white shark"? The other retorts: "I don't need to outrun the shark, I only need to outrun you".

As per lame joke, the question might be re-phrased as: is bitcoin a better store of value than fiat currencies like the US dollar or euro? The same comparison might be made between bitcoin and precious metals like gold and silver.

I would be interested to know how people see a bitcoin versus fiat currency debate on store of value panning out.  

[entrepmind23]

I still consider bitcoin as a good store of value. Though there are times when its value flops because of FUD or because of any other reason, many still believe in it that its value will turn around and go up above their buy price which is the reason why it would be a good investment. We know that there are whales out there who can somehow control its price but because majority of holders are positive about bitcoin, we just accept the fact and ride with the tide. Unless another coin would be able to surpass and get the throne of bitcoin, it would still be a safe haven.

Gold and other precious metals may be good options as well for safe haven and we can see that many are still interested in it because of the recent surge up when the stock market is down but the advantage of bitcoin over it is that bitcoin can be both a store of value and a currency while gold will only be a store of value.

[Arwinkim]

I don't think it is safe heaven but almost there  Bitcoin future is still promising. In the matter of fact, last year is considered as development year of bitcoin.

[jtipt]

Seeing as the price today is $11,300, if you got into bitcoin on 7th Feb as a hedge against the markets, you have done spectacularly well!

I'm thinking the same but the price is getting down again at $10,600.

I think that's just normal market movement. Everytime BTC rises by $1-1.5k we are seeing a minor correction, this is happening almost all the time since the $20k crash.

of course not , btc price is very volatile it went from 20k to 8k

20k was overvalued. If you would see the steep increase that lead to 20k, it's very clear that 20k was never going to sustain. It was pumped by pure hype of people, right now $10-12k is the perfect price for BTC. I would consider this pretty much non volatile for BTC.

[thend1949]

Yes, as long as the wallet you are currently using has its feaute of two factor authentification so that some threats and risk for the bitcoin you have in your wallet is somehow safe. You should also be aware of different phishing method so that you will be able to determine where and what you should open.

Yeah youre right that bitcoin is a good store because we keep our money grow at the same time secure our earnings to fullfill our dreams .Bitcoin is like loving yourself because the way you care of it you make improve.Just like bitcoin the way you give effort your are a reason to be a millionaire soon.

[mega sylviku]

Bitcoin comes such as a agent of change, because it offers much advantages for people.
It is not currency, people can do others transaction here easily. I think that bitcoin will be always good because it makes people easier. The money that we invest in bitcoin is kept safely even it gives much benefits for the owner. However, it all depends on you, as long as you do the best in bitcoin, yo will get much advantages of it. 

[MAJICOIN]

It is good to store bitcoin in the the safe stores but in the previous years globally the market have shown the image of these that bitcoin and other coins people have sold in aggressively and this bring a panic situation to the market So it is good to store but for this the patience is must and if you do hard work you can earn good amount of money from this.

[BillCoin]

I don't think that it ever had a value of a safe haven.
Safe haven is something that you rely on, and that if you put your money and buy this "safe haven" for a long period of few years, you are most likely to have something around the amouny you invested with interest, I wouldn't say that bitcoin is a sure run here as it's price yet to be stabilized,and it has been here for only 9 years which is not a long period of time.
On the other hand gold had value for thousends of years, and it's price is much more stable, I would assume that most of the people would see gold as a safe haven and bitcoin as a high risk investment.

[boyptc]

Seeing as the price today is $11,300, if you got into bitcoin on 7th Feb as a hedge against the markets, you have done spectacularly well!

I'm thinking the same but the price is getting down again at $10,600.

I think that's just normal market movement. Everytime BTC rises by $1-1.5k we are seeing a minor correction, this is happening almost all the time since the $20k crash.

It went down today again to $9,600 but this is still normal. And that you had mentioned the minor correction, this might be the expected correction that we have been waiting for. Hopefully after this correction the price can be good and ready to go for $20k.