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

[HannahGoFighting]

in fact, what happens during the World Crisis is very difficult to explain, since people suffer more, and oligarchs accumulate their capital and not a single billionaire has become a millionaire because of the crisis.  And governments are just printing new money, and people are losing their savings.  I believe that cryptocurrency in this regard is really preferable to paper money.

It is not enough to simply choose a safe-haven to deal with financial crisis, we need to ensure our source of income.

[mike_spr]

in fact, what happens during the World Crisis is very difficult to explain, since people suffer more, and oligarchs accumulate their capital and not a single billionaire has become a millionaire because of the crisis.  And governments are just printing new money, and people are losing their savings.  I believe that cryptocurrency in this regard is really preferable to paper money.

It is not enough to simply choose a safe-haven to deal with financial crisis, we need to ensure our source of income.

That depends very much on where you live. In some countries, where you have major inflation, for sure that Bitcoin is preferable then paper money.

[dalibord]

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. The world situation is turbulent after entering 2020. US-Iraq conflicts continue, the China-U.S. relation on a tight rope, coupled with the broken out of regional financial crisis over the years, the public’s fear of recession is growing. The rising price of insurance assets also indicates that more people are preparing for the financial crisis.

Since the value consensus of Bitcoin has been formed and is widely acknowledged, many people chose Bitcoin as a safe-haven when regional financial crisis occur...

In a financial crisis, the people will turn to the store of value assets like metals (gold, silver). One can argue that BTC is a poor store of value when it's price fluctuates 20% from week to week.
Sure it's good for combating inflation in Venezuela, but in this Corona outbreak, we saw nothing that would draw a conclusion that BTC has replaced metals (And that it will ever will).
Why?
In the affected areas people were preparing for the worst, they bought food, supplies, masks, and the ones who had more money - gold&silver. Stuff for the armageddon day.
And what will be the store value of BTC when the power is out? (One of the things they were preparing for). No electricity = no real-life use of BTC.

Am I for the mass adoption - sure, all the way. Should it be used as inflation combating decentralized asset - hell yes! For speculative trading - yes, if you like to gamble and looking at graphs.
Store of value - no freaking way!

My 2 cents.

[TheGreatPython]

I am not hundred percent sure about this, but I feel that Bitcoin would be a really good option for anyone that goes for it. Bitcoin shouldn’t be the only thing to be considering , there are lots of other assets that you should look into if you’re afraid to invest in Bitcoin. Gold has always been another good option to consider apart from bitcoin and some experts have said that gold is a better safe haven than Bitcoin.

I would prefer to invest in Bitcoin because I know that as time goes on the price of bitcoin will keep going up. From 2008 that bitcoin was created to now the price has been going up. Every year the low for the cryptocurrency is always higher than what it was in the past and that’s because the community keeps growing. I know that in the next years more people will discover bitcoin and start investing in it and it will keep on growing.

[joeperry]

If the economy would fail globally, everything else will also follow, and so cryptocurrency like Bitcoin. Financial challenges are evidently situated in different nations in today's economy but Bitcoin somehow strives to keep a value that is beneficial at some point so its enthusiasts. However, if the economy would fail completely globally, it's possible that Bitcoin would also strike its lowest. And so to be realistic, Bitcoin may be a safe haven for now but I don't think it would still be by that time, I don't think that there would be a safe haven anymore. Yet, Bitcoin has this surprising volatility character, so who knows, maybe it would be the solution when nothing seems to be the right haven.

[HannahGoFighting]

in fact, what happens during the World Crisis is very difficult to explain, since people suffer more, and oligarchs accumulate their capital and not a single billionaire has become a millionaire because of the crisis.  And governments are just printing new money, and people are losing their savings.  I believe that cryptocurrency in this regard is really preferable to paper money.

It is not enough to simply choose a safe-haven to deal with financial crisis, we need to ensure our source of income.

That depends very much on where you live. In some countries, where you have major inflation, for sure that Bitcoin is preferable then paper money.

Actually, I’m talking about VDS. This crypto project turns interpersonal relationships into cash flow through the Trust Stamp System from which we can obtain a steady stream of revenue.
Of course, I would much prefer crypto than paper money.

[Swordsoffreedom]

~snip~
I would prefer to invest in Bitcoin because I know that as time goes on the price of bitcoin will keep going up. From 2008 that bitcoin was created to now the price has been going up. Every year the low for the cryptocurrency is always higher than what it was in the past

I agree with you. There are a lot of people who think that investing in bitcoin will make them rich overnight, which, obviously is not the case. There will always be some dumb people around you who'll think like that So it's better that you avoid these people to get rid of getting blamed when they face the reality, lol. The main thing is to make a decent amount of profit you have to be patient.

[HannahGoFighting]

~snip~
I would prefer to invest in Bitcoin because I know that as time goes on the price of bitcoin will keep going up. From 2008 that bitcoin was created to now the price has been going up. Every year the low for the cryptocurrency is always higher than what it was in the past

I agree with you. There are a lot of people who think that investing in bitcoin will make them rich overnight, which, obviously is not the case. There will always be some dumb people around you who'll think like that So it's better that you avoid these people to get rid of getting blamed when they face the reality, lol. The main thing is to make a decent amount of profit you have to be patient.

I also believe in holding long term as the space and technology is new, crypto with true utility fixes every issue money has.

[FanatMonet]

~snip~
I would prefer to invest in Bitcoin because I know that as time goes on the price of bitcoin will keep going up. From 2008 that bitcoin was created to now the price has been going up. Every year the low for the cryptocurrency is always higher than what it was in the past

I agree with you. There are a lot of people who think that investing in bitcoin will make them rich overnight, which, obviously is not the case. There will always be some dumb people around you who'll think like that So it's better that you avoid these people to get rid of getting blamed when they face the reality, lol. The main thing is to make a decent amount of profit you have to be patient.

The psychology of people is so arranged that the majority wants to get as much as possible, while putting as little effort as possible. And sometimes it’s very difficult for such people to explain that bitcoin will not make them rich in a couple of days.

[HannahGoFighting]

~snip~
I would prefer to invest in Bitcoin because I know that as time goes on the price of bitcoin will keep going up. From 2008 that bitcoin was created to now the price has been going up. Every year the low for the cryptocurrency is always higher than what it was in the past

I agree with you. There are a lot of people who think that investing in bitcoin will make them rich overnight, which, obviously is not the case. There will always be some dumb people around you who'll think like that So it's better that you avoid these people to get rid of getting blamed when they face the reality, lol. The main thing is to make a decent amount of profit you have to be patient.

The psychology of people is so arranged that the majority wants to get as much as possible, while putting as little effort as possible. And sometimes it’s very difficult for such people to explain that bitcoin will not make them rich in a couple of days.

Agreed.
Bitcoin isn't a get rich quick scheme.
Bitcoin is a get free quick scheme.

Can we switch back to VDS?

[hongchao123]

Current situation proofs that the best save haven is gold, unfortunately

[Jet Cash]

Current situation proofs that the best save haven is gold, unfortunately

It isn't as simple as that. You need to differentiate between gold delivery contracts, and physical gold. Even in physical gold rhere are differences between gold coins,bullion and scrap. Another consideration is the gold/silver ratio. At the moment, it is looking as if silver will show the greatest gain and the best security. This is why Jamie Dimon has bought so much of it.

[HannahGoFighting]

Current situation proofs that the best save haven is gold, unfortunately

No, Bitcoin and crypto as the store of value aren't dead just because they had a super shitty day. In the coming months the world will see what anti-fragile means.

[MannyGo]

Current situation proofs that the best save haven is gold, unfortunately

No, Bitcoin and crypto as the store of value aren't dead just because they had a super shitty day. In the coming months the world will see what anti-fragile means.

You're right. In the race of global asset rebound, cryptocurrency is no doubt the well-deserved winner.

[LUCKMCFLY]

Right now in countries with very high inflation such as Argentina, Venezuela and Nigeria, if Bitcoin can be seen as a safe haven despite the pandemic, since the local currency as the bitconi grows and the dollar also, the value increases significantly. , bitcoin is even preferred over gold due to the enormous ease of making transactions, buying and selling.

[kecha1]

Yes, that's right, bitcoin is the best safe-haven in difficult times

[verita1]

I believe that BTCitcoin and Gold will be one of the assets that investors are most interested in and we can see how much we can respond in the recovery of the economy.
It is my optimistic thought after seeing to specialists spreading it on the most recognized bitcoin and blockchain blogs.

[Money_catcher]

Bitcoins is not the safe heaven in any case .
I love bitcoins but when we talk about the financial crisis we need to understand that the values are gonna fall , values of everything, even bitcoins , therefore one must understand that they should not keep all their savings in a volatile market because sooner or later it might change the value and cause great distress .
It is amazing for trading and in the days of crisis one can rely on bitcoins for a job I would say , since am not sure if the government will be able to provide one , even right now they are not able to do anything.

I agree, there can be no absolutely safe currency or type of investment. There is always a risk and no one is safe from it. Therefore, you cannot invest all the money in one thing and you cannot remain without a fallback.

[BChydro]

I believe that BTCitcoin and Gold will be one of the assets that investors are most interested in and we can see how much we can respond in the recovery of the economy.
It is my optimistic thought after seeing to specialists spreading it on the most recognized bitcoin and blockchain blogs.

During difficult periods investors used to consider gold as a safe heaven for centuries but if you look at the price of gold right now, you really cannot call it as a safe heaven as the price of gold has risen many folds in the past decade, when it comes to bitcoin i have no idea whether people will consider it as a safe heaven, it all depends upon how major financial institutions see the bitcoin market.

[aakashsangwan]

I believe that BTCitcoin and Gold will be one of the assets that investors are most interested in and we can see how much we can respond in the recovery of the economy.
It is my optimistic thought after seeing to specialists spreading it on the most recognized bitcoin and blockchain blogs.

During difficult periods investors used to consider gold as a safe heaven for centuries but if you look at the price of gold right now, you really cannot call it as a safe heaven as the price of gold has risen many folds in the past decade, when it comes to bitcoin i have no idea whether people will consider it as a safe heaven, it all depends upon how major financial institutions see the bitcoin market.

Even bitcoin price have seen many cycles of uptrend as well as downtrend in the past year, so it can't be considered as a safe heaven, but the thing is that government holds the money supply and literally at any time they can print any number of currency notes which isn't good for those who believe Fiat system is safe.
Even we have seen in case of gold the price doesn't depend on its rarity, rather it depends on the supply and demand of gold just like Bitcoin.