Is Bitcoin a Safe Haven Asset?

[andulolika]

In the ongoing epidemic of the Coronavirus, Bitcoin is considered a safe treasure that has not shown any positive signs of flight. Then the question arises as Is Bitcoin really a safe haven asset?

Ofcourse it is, if you manage your risks, and no positive sign is because obviously the chinese government would rather create their own which can be controled.

I believe a combo of metal and btc/xmr/eth 50-50 would be best.
Even if ofc crypto is supposed to give you more profits than the other the world wide EMP the sun is charging is still a chance.

[Jating]

For me bitcoin hasn't proven its worth yet, I'm not saying that it is not a safe haven asset, but so far we haven't have use case or a concrete proof.

People still leverage this wealth on proven assets such as gold or other precious metal, crypto? not?

But perhaps down the line, many might see bitcoin, specially those younger generations, so we will have to see.

[bhabygrim]

Again with the CoronaVirus thing?
Why should it be connected again?

Why not just ask if bitcoin is a good asset as of now?
Yes, it is.
That is how they think by now. Maybe you ought to just do the same. Although it should be in the currency line, because of not much usage it became like gold which will just best to be kept.
You decide.

I think we should get used to it people would create all sort of things about corona virus and bitcoin.
And for OP's question I would be blunt for you,
You have seen how the market has been do you still consider it as a safe haven asset?
There are still some other investment that is far more safer and stable compare to BTC.

[Ridwan Fauzi]

In the ongoing epidemic of the Coronavirus, Bitcoin is considered a safe treasure that has not shown any positive signs of flight. Then the question arises as Is Bitcoin really a safe haven asset?

First of all you may need to have bitcoin first to know the exactly what in your concern.

As for corona virus, I've been watching several threads who discuss it. Even, some people have a thought that the decreased price was caused by corona virus.

So, if you mean bitcoin is safe heaven to store your money when the economic situation is bad then I would disagree it, the fact bitcoin price was decreasing.

Have you see it was happened? because if I predicted and I tried to find some information there was no negative information which I think it will make bitcoin price decrease.

But if you mean bitcoin is safe heaven that you can control by yourself then I will agree with that (which was stated by someone before me).

[sheenshane]

People dont know about technical knowledge is always asking like this. Bitcoin is a safe asset, Bitcoin is good for investment and etc. There are too many questions that bothering their mind because the truth they didn't know how Bitcoin will work and what is the function of this as a virtual currency.

First, know everything about Bitcoin and you didn't ask a question like this. Understand the risk and the market movement will give you an accurate answer to your questions.

[barumbado]

Despite of the many issue ,the pandemic around the world,for one,i can say yes. In my own opinion,yes it is.Bitcoin can still be a safe haven for everyone.Though there a risk but  i still consider bitxoin over others.

[Wind_FURY]

To the people who voted "NO". There is a possibility that the pandemic will grow big enough, and force most of the world's banks, and stock/commodity/FOREX markets to close.

Bitcoin continues to run.

[btc_love]

With all my love for bitcoin, I do not consider it a reliable asset because of its volatility. You can buy 10 btcs for $10k per unit, and in a month everything will depreciate twice. This is not a quality that is associated with reliability. A plot of land that you buy for the money is extremely unlikely to depreciate as quickly.

[Viscore]

Bitcoin is a good store of value, but it's not a safe haven since when investing in bitcoin, we are dealing with risk and reward, so we can either lose or be profitable in the end. For you to trust bitcoin as an investment, you need to fully educate yourself on bitcoin so you'll be confident holding it.

When holding bitcoin, it requires good timing when selling, we need to have good patience as sometimes the price will significantly dump and it could result to panic, but if you are not one of the weak hands, you'll not gonna make a bad decision, so as I said, educate yourself so you can hold it longer.

We don't know when the pandemic is over, but bitcoin has been tested through times that its a good asset.

[elenag742]

Bitcoin has been a sheltered area for quite some time, as it has significant highlights of gold as its own benefit. Just because a support is unacceptable in the light of unprecedented instability does not mean that it is not going to be one in the next. If you want to continue until the liquidity slowly goes up, obviously the volatility can decrease.

[isaac_clarke22]

To the people who voted "NO". There is a possibility that the pandemic will grow big enough, and force most of the world's banks, and stock/commodity/FOREX markets to close.

Bitcoin continues to run.

Indeed. That's what's running in my mind when the pandemic started to hit the news, like everything's pretty much closed down. Stock market  is falling, and people with access to internet should find out about Bitcoin soon enough. Even if we got banks that allows long-distance payments through credit card, for the sake of privacy and convenience people would still choose Bitcoin.

[Janation]

In the ongoing epidemic of the Coronavirus, Bitcoin is considered a safe treasure that has not shown any positive signs of flight. Then the question arises as Is Bitcoin really a safe haven asset?

IMO, there is no such thing as a safe haven investment.

I don't think we should be worrying about our lives in the future if we have an investment in a safe-haven asset and obviously, people would be fawning all over it since it is a safe-haven investment, isn't it? Another thing is that despite the good price movement of Bitcoin in the pandemic, it is still volatile so we can't really say that a risky cryptocurrency is a safe haven investment.

[Skieleton]

In the ongoing epidemic of the Coronavirus, Bitcoin is considered a safe treasure that has not shown any positive signs of flight. Then the question arises as Is Bitcoin really a safe haven asset?

At night, March 13, the BitMex exchange stopped working for about 60 minutes, as reported on Twitter, for technical and hardware reasons. It happened at a time when bitcoin was falling most. After the stock engine stopped, bitcoin bounced back and started returning to its previous positions. This incident became the basis of theories later put forward by the community.

This situation has shown that nothing is really safe. We must observe and react ...

[LbtalkL]

Yes, it is. Bitcoin is the safest cryptocurrency asset it will never turn scam or what. It is just like a normal currency like a dollar with better features. Anonymity, Limited supply, unlike dollar which they keep printing. With limited supply, it will be more valuable in the future. Like for an instance you bought bitcoin at a high price after 1 month it went down 50%. For me, it is still safe. From last bullrun it went down more than that but Bitcoin or cryptocurrency nature is moving up and down if it is not moving it is pretty much dead. Bitcoin can recover in time it has community trust.

[Utoy101]

In the ongoing epidemic of the Coronavirus, Bitcoin is considered a safe treasure that has not shown any positive signs of flight. Then the question arises as Is Bitcoin really a safe haven asset?

The cryptocurrency market is highly volatile and unpredictable with ups and down and sadly, any currency having such features can not be regarded as a safe haven. This is the reason why expects would advise you to enter this market with cash that you can spare and invest what you can't afford to loose in a more secure investment option of rather keep your FIAT

[Chris Barth]

Yea, I'd see it so but... Volatility is one dude that sometimes makes us feel like it is a safe hell. Lol. However, I don't really see any reason why someone would oppose to being a safe heaven asset

[Sadlife]

Bitcoin will not do good in the initial stages of the financial crisis because stocks and cryptocurrency market are correlated and many Institutional Investors have loss their money with the stock market crash and some have loans and debts to pay, now they have to cover their losses by selling assets and some of those are Bitcoin. In the coming days, months or years if the stock market situation gets worse then Bitcoin will truly decouple with it having a massive effect to the price.

[rexxarofmoknathal]

Is BTC a safe Haven asset? Of course, not just because you buy BTC it does not mean that that will make you reach - it is just a misunderstanding. The thing about crypto is that is ultimately based on people's buying power and if that's not enough the fluctuations int he market which sometimes can be instigated artificially will cause you a lot of financial damages. So you're taking a huge risk by hoping that BTC (and no other crypto) will be the definite future and that is dangerous and most definitely not a haven safe!

[Kelvinid]

Is BTC a safe Haven asset? Of course, not just because you buy BTC it does not mean that that will make you reach - it is just a misunderstanding. The thing about crypto is that is ultimately based on people's buying power and if that's not enough the fluctuations int he market which sometimes can be instigated artificially will cause you a lot of financial damages. So you're taking a huge risk by hoping that BTC (and no other crypto) will be the definite future and that is dangerous and most definitely not a haven safe!

Then we have to change its feature and therefore, it can be considered as a safe haven asset in the future. Because if we are referring it today, people will obviously not to think it was a safe investment but a higher risk. However, I understand what they feel, and as we felt it also but we can't change their mindset thinking Bitcoin is a way to make them rich. It can be of reality but it also depends on how to make a deal of it especially during the hard times.

[Bukata]

Bitcoin has soared this week, climbing to $10,000 and revving up the market ahead of the closely-watched halving next week. The bitcoin price has now erased all its coronavirus crash losses, up almost 40% since January 1—and putting it on track to be one of the year’s best performing assets.