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Author Topic: Shanghai Stock Market down 8% - Bitcoin’s On-chain Transaction Volume up by 45%  (Read 228 times)
BrewMaster
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February 05, 2020, 02:33:15 PM
 #21

~snip~

I think there is a big misconception that money is flowing from one market to another when it comes to Bitcoin. Stock traders or traders in any other markets still do not see Bitcoin as a safe haven, and still generally turn to gold, silver or bonds. Take, for example, bonds with negative interest, the value of that market was around $15 trillion last year, and it is go up 3 times in only 1 year.

Why didn't some of that money go to Bitcoin, and we are talking about $10 trillion (more than the value of all gold)? Because bonds even with a negative interest rate is a far safer investment than Bitcoin (for most investors).

i wasn't suggesting that all the money just flies over to bitcoin market, if that wasn't clear.
but i am sure that at least a small percentage of it does come to bitcoin as stock market crashes. there are many investors who aren't only focusing on one market, they "diversify" and put some part of their money in things like bitcoin that don't follow other markets. when those markets crash they increase their investment in bitcoin.

There is a FOMO brewing...
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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February 05, 2020, 05:29:33 PM
 #22


Absolutely nothing unexpected. Stock markets, especially in China and Asia, will react very strongly to coronavirus, and European and American too.

Bitcoin now looks like a safe haven, for pumping money from exchanges, and waiting for all the events with the coronavirus.
Everything reacts to coronavirus. I did my TOEFL recently and saw an article that the tests are canceled in China. I have sort of a job in film industry, and today I read that China closing 70k cinemas due to the virus will cost the global economy about $1 billion! Fortunately, Bitcoin does not get affected, because it certainly cannot spread the disease and using it does not require attending any public places where someone might be infected.
As for transaction volume, though, I don't believe the data because everyone knows about volume getting faked and because I cannot find any well-established media writing about it.

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