Is Bitcoin The Best Safe-haven In The Wake of Financial Crisis?

[bitbunnny]

I don't think that Bitcoin it's best investment itself that can save you from crysis because Bitcoin is also risky without guarantee of profit.
However it could be very helpful if you are wise and experienced investor and especialy if you combine it with some other assets.
One of the triggers for creating a Bitcoin were exactly financial crysis that repeated in.cycles created by banks and traditional financial system. However, Bitcoin itself can't be the solution for world finances but it can be helpful on an individual level.

[kentrolla]

Bitcoin came as a currency but it has been treated as a speculative product due to its continuous fluctuations. BTC is gradually losing its supremacy in the crypto currency market, but yes it will bounce back more harder than before.

Crypto is extremely risky because of its volatility, So for me it's not the best safe-haven when it comes to financial crisis.

[cr1776]

In September 2019, Gallup released a poll in which 49% of Americans believe the U.S. economy would fall into recession, 9% higher than the one polled before the 2008 financial crisis.

what some statistics tell you people believe doesn't matter. 100% of them could believe something happen and that thing can still not happen or vice versa.

However, as Bitcoin transactions become increasingly dependent on centralized exchanges, some regions set limitation on Bitcoin transactions by controlling exchange platforms.

that is not true at all. bitcoin transactions have never been dependent on centralized exchanges and will never be. bitcoin remains the same decentralized currency that doesn't need any third party to be "transferred". nowadays people choose centralized exchanges to trade bitcoin and dump their fiat for bitcoin but the transactions still remain independent.

Vollar is the only circulating medium in VDS ecosystem.

just another garbage altcoin

Exactly this.  Just because 8000 years ago 100% of people believed the earth was flat, did make it so.  Just because 1000 years ago everyone believed "heavier than air flight was impossible" didn't make it true.  Statistics about people's beliefs do not change any facts.  Just as in September 2019 if 49% of people think a recession will occur with 6 months (for example) doesn't mean it will.  

As he said, bitcoin transactions NEVER depend on an exchange.  Sure if you want to purchase bitcoin, one may need an exchange.

Is it a safe haven?  Certainly more so than fiat.

Just a bunch of nonsense.

[HannahGoFighting]

Sounds like a Vollar advertisement disguised in an article to me.

Moving from Bitcoin to another currency doesn't help with anything and won't make anything better. Bitcoin is great the way it is today and whatever you'd like to talk about, with the exception of a few coins such as Monero, pretty much any coin you'd like to talk about is more "centralized" than BTC..

For me it is the best asset you can own during hard times. Send all your wealth to a piece of paper, put it in your pocket and go wherever you'd like around the world without any fear of someone finding out you've got a ton of metal or a bag of banknotes with you. The anti inflationary structure of it also guarantees there's no way someone's going to pour a billion BTC into circulation at any given time. Is there anything better than this to own to protect our wealth from the crisis?

But how exactly can we send all our wealth to a piece of paper and put it in our pocket?

[gundala]

Bitcoin came as a currency but it has been treated as a speculative product due to its continuous fluctuations. BTC is gradually losing its supremacy in the crypto currency market, but yes it will bounce back more harder than before.

Crypto is extremely risky because of its volatility, So for me it's not the best safe-haven when it comes to financial crisis.

That's right, it's too risky, but looking at the history of this decade, the price of bitcoin tends to rise and multiply. It could one day become more valuable, even vice versa, worth the high risk. We must prepare mentally, not only ready to profit but also must be prepared to lose.

[blachken]

For me it is the best asset you can have during difficult times. In all types of crises it has been shown in history that gold is a safe asset, which serves as a haven for nominal value, now the economic conception has changed to make room for digital money and better than Bitcoin, which represents money, has more ease of transfer and is not complicated when handling large amounts. Is there anything better than this to protect our wealth from the crisis

[davis196]

The opinions of the ordinary Americans about the future of the US and global economy doesn't matter at all.
You can't predict a global crisis with polls asking the people about what they think or feel about the future.
Please don't try to pitch this Vollar (VDS) project in a thread that isn't about this topic.There are "Announcements" and "Project Development" sub-forums.You can post there without trying to secretly advertise this project.
Bitcoin is not a safe heaven,because it's price isn't stable.

[ultrloa]

Bitcoin came as a currency but it has been treated as a speculative product due to its continuous fluctuations. BTC is gradually losing its supremacy in the crypto currency market, but yes it will bounce back more harder than before.

Crypto is extremely risky because of its volatility, So for me it's not the best safe-haven when it comes to financial crisis.

That's right, it's too risky, but looking at the history of this decade, the price of bitcoin tends to rise and multiply. It could one day become more valuable, even vice versa, worth the high risk. We must prepare mentally, not only ready to profit but also must be prepared to lose.

Agree, that's why I don't think majority of americans will select bitcoins since they might fall on the trap of volatility and there are other safe options for them to select and that is gold which is more secure than bitcoins, But if they can withstand the risk of the bitcoins have trust on it then maybe it's good since imagine if the scenario will come and they will find a best asset to hide their wealth then maybe for that bitcoin will be chosen and it could possibly pump up.

[Pmalek]

We are in a little crisis right now and all financial assets, including Bitcoin are on a downward trend. Gold went down over 2% just yesterday. Stocks are at a low point and they are in a position where they haven't been for 20 years. Bitcoin and the crypto industry aren't immune to this either. From almost 10k Bitcoin is now down to 8.8K.     

[buwaytress]

The opinions of the ordinary Americans about the future of the US and global economy doesn't matter at all.
You can't predict a global crisis with polls asking the people about what they think or feel about the future.
Please don't try to pitch this Vollar (VDS) project in a thread that isn't about this topic.There are "Announcements" and "Project Development" sub-forums.You can post there without trying to secretly advertise this project.
Bitcoin is not a safe heaven,because it's price isn't stable.

I wouldn't go as far as to say that. I do agree, American opinion tends to be severely lacking in world view, but at the moment, with crypto and Bitcoin concentration in the US still a relatively strong presence, it's got to have some effect. As long as many of the Bitcoin nodes, much of the mining and majority of actual use (if not, perhaps, even trading and speculation) is mainly in America, their says definitely going to have some impact. 

But yeah, eff, the vdollar crap.

[LogitechMouse]

There is no such thing as "SAFE HAVEN" when it comes to investing because any asset goes up and goes down. It will depend on how you will entry and exit in the market and how long can you hold your asset.

Wait, is this some kind of another altcoin advertisement and inserting a topic like this. Good advertisement but that will  not work here .

[oleg8791]

I used to believe that Bitcoin was a safe haven. But now there are more evidences that it isn't.
https://beincrypto.com/bitcoins-safe-haven-status-tested-amid-coronavirus-driven-market-decline/
https://www.forbes.com/sites/kenrapoza/2020/02/28/remember-when-bitcoin-was-supposed-to-be-good-as-gold-it-isnt/#56f331ae26d8

[Latviand]

It would depend on the condition of blockchain technology at the time of that crisis. If its market value would be stable by that time, there is a chance that it would be a safe haven because at this moment, its market value moves a lot making it risky to put your money in it which would immediately turn into an investment, simply contradicting the concept of a "safe-haven" which secures your money without any form of risk present.

I used to believe that Bitcoin was a safe haven. But now there are more evidences that it isn't.
https://beincrypto.com/bitcoins-safe-haven-status-tested-amid-coronavirus-driven-market-decline/
https://www.forbes.com/sites/kenrapoza/2020/02/28/remember-when-bitcoin-was-supposed-to-be-good-as-gold-it-isnt/#56f331ae26d8

Its market volatility is a huge factor which makes it not a good safe haven for one's money. It could be a gold source of income as an investment but one should take the risk before earning profit. There are times wherein its market price would fall, despite of the chances for recovery, it won't be convenient for a person especially amidst of a crisis.

[Sadlife]

The financial crisis is coming and we'll see Bitcoin will be once and for all be tested with the stock market recession. But the banks may hold it off much longer with lower interest rates and quantitative easing.
The recent stock market crash with S&P and Dow Jones dumping, could be the beginning of it and also even Gold went down. Worrying times for fiat system cause Bitcoin might just overtake it.

[7788bitcoin]

That's right, it's too risky, but looking at the history of this decade, the price of bitcoin tends to rise and multiply. It could one day become more valuable, even vice versa, worth the high risk. We must prepare mentally, not only ready to profit but also must be prepared to lose.

The price of bitcoin is expected to rise if the financial market is good but since the OP is having a doubt about bitcoin being the safe heaven in the wake of a financial crisis i really do not think so, the financial market is falling for the past week and that is exactly the same we saw in the bitcoin market and considering those circumstances you cannot call it a safe heaven.

[xilosoft2.0]

One of the triggers for creating Bitcoin is financial crysis that is repeatedly repeated. Bicycles were created by banks and traditional financial systems. Everything can happen during the financial crisis, every financial market will be affected but because bitcoin moves on different trends and markets, I think this can be a safe place for investors because bitcoin is not directly connected to the economy one country. However it can be very helpful if you are a wise and experienced investor and especially if you combine it with several other assets.

[panganib999]

That's right, it's too risky, but looking at the history of this decade, the price of bitcoin tends to rise and multiply. It could one day become more valuable, even vice versa, worth the high risk. We must prepare mentally, not only ready to profit but also must be prepared to lose.

The price of bitcoin is expected to rise if the financial market is good but since the OP is having a doubt about bitcoin being the safe heaven in the wake of a financial crisis i really do not think so, the financial market is falling for the past week and that is exactly the same we saw in the bitcoin market and considering those circumstances you cannot call it a safe heaven.

Yeah, when there is somethinf bad happening in the world most likely there is a pump on which coin? Bitcoin definitely. I personally consider bitcoin as one of the safe haven if there is a financial crisis but taking also the risk of having it. It is safe because you stored the value somewhere  but the risk of volatility stays. For theae past week, I guess it's prettt natural from speculation to movement to unexpected low.

[kemoglo]

Anything is possible during a financial crisis, every financial market will be affected but because bitcoin moves on different trends and markets, I think it can be a safe place for investors because it is not directly connected to one country's economy.

Exactly, during crisis everyone will look for ways to make money, sure some people will help others but some will very much not. And this last group will also look for ways to protect their funds and I think bitcoin will be one of those safe havens, it's what it was created for anyway

[Oceat]

Anything is possible during a financial crisis, every financial market will be affected but because bitcoin moves on different trends and markets, I think it can be a safe place for investors because it is not directly connected to one country's economy.

Exactly, during crisis everyone will look for ways to make money, sure some people will help others but some will very much not. And this last group will also look for ways to protect their funds and I think bitcoin will be one of those safe havens, it's what it was created for anyway

You guys are unaware of the Bitcoin price manipulation? If yes, then you probably will be lost easily in the future if you tend to believe that Bitcoin is untouchable. Heck the price is not always what we expect it to be because manipulators know it already and all we have to do is to ride with their movement but if you have an experience about of this price manipulation then you might save a lot of money in the future.

[xilosoft2.0]

Anything can happen during a financial crisis, any financial market will be affected, but because bitcoin moves on different trends and markets, I think it can be a safe haven for investors because it is not directly connected to one country's economy. However, it can be very helpful if you are a wise and experienced investor and especially if you combine it with several other assets.
One of the triggers for creating Bitcoin is the financial crisis that repeatedly occurred. The cycle created by banks and traditional financial systems