Is Bitcoin Still A Safe-Haven Asset? Yes? No? what is your answers and why?

[vominhtri1611]

Recently, the global asset markets have been roiled by concerns that the United States and China may soon enter a trade war.

While some assets have responded in a predictable fashion - with stocks losing value and gold enjoying gains - Bitcoin has failed to appreciate over the last few days.

The world's largest digital currency by market value fell to as little as $8,296.33 today, down more than 9% from the weekly high of $9,159.90 it reached on Wednesday, March 21, CoinDesk Bitcoin Price Index (BPI) figures show.

Some people wonder "Is Bitcoin still a safe-haven asset?" So what should be the real value of Bitcoin?

[mk4]

Yes and No.

Yes because you could probably easily buy and hold bitcoin if you're in a country whereas the economy has gone to crap (e.g. Venezuela). You could easily go places with your bitcoin compared to as when you chose something like gold or silver as a safe-haven.

No because of the volatility. No other reason.

[renes]

Just like people see gold as a safe haven in crisis, bitcoin will be gold of the new digital world. What I know is simple, even if there will be a global crisis tomorrow, it is just a opportunity for me buy more.

[Heisenberg_Hunter]

During Feb, the price was a monthly low accounting to 6,300$. And right now the price touched 7,900$. These timely low are because of trustee selling off lumps of btc in exchanges and the banning of crypto ads in major social media platforms such as google and fb. Crypto will recover at a steady rate and it would take time for these problems to get over.

Coming to your question, according to my view it is a safe asset for people. Btc was created to replace fiat in future and to be used as a global currency. If all the people in this world are against crypto, the value of btc would be zero as there are no supporters eventually. If supporters grew with time, the value would grow exponentially.

[gentlemand]

It never has been. It may well be in the far future. Up until today it's been nothing other than a speculative plaything with the luxury of rising during a completely unbroken bull run in wider markets that's deluded people into thinking it's potentially immune.

Of course it has been for people in shit holes like Venezuela. But it hasn't been truly put to the test by questionable global conditions yet. In a decade or two I think it'll be established enough to be able to answer that question properly. Until then it's all a bit too murky and bonkers still.