Bitcoin still a Safe Haven, haters aren't saying the truth.

[Becky666]

Bitcoin fell some days ago and many were of the opinion that, there's no need to hold the said cryptocurrency because it was not able to stand against the coronavirus epidemy. During the crash, the percentage of the fall was more on Bitcoin than the fiats(stocks), but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.

“It may sound crazy, but I think it takes $700bn to over a $1tn to stabilize the markets. The last few weeks are a prime example of why digital assets, namely Bitcoin, have a place in the global markets.”  Bill Herrmann.

No doubt that Bitcoin is a Safe Haven and not what others speculated about it being weakest  during the crash.

Do you still insist that Bitcoin isn't a Safe Haven?

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[joniboini]

Being too optimistic or pessimistic is not always good. It is a fact that you could lose a lot of money in the bear market or the recent dump, more than if you hold other assets such as gold and things like that. It's easy to say and discuss whether it's a safe haven or not but if you're feeling that your portfolio is losing -50% of its value, I bet you'd feel anxious and fear for the worst.

The best practice would be to manage your risk properly and never invest something that you can't lose, exit and enter the market at the right moment, and you'll get the profits. Bitcoin will 'win' in the long run because of the supply and demand law, but you can only live in the present.

[fiulpro]

In the time of a Global Pandemic , Bitcoins have helped people in a variety of ways , for me safe heaven is not price but the ability of a investment to bring good results.
Who says one cannot earn when the price is low ?
Who says one cannot earn through bitcoins during a quarantine?
Bitcoins is the one helping people the most when all the government jobs and private jobs are shut down and people are helpless and don't know where to get funds from .
It is a safe heaven .
And it will stay like that despite it's price.

[Becky666]

~~~~~~~ if you're feeling that your portfolio is losing -50% of its value, I bet you'd feel anxious and fear for the worst.

Absolutely correct, this resulted to series of panic sales from holders who seem to be hit harder during the crash. We're not against such move but hold for a long-term still give more than in panic sales. The facts should be clear enough for cryptocurrency holders or investors: "get rich quick aren't available anymore and anywhere around Cryptocurrencies". Long-term is the answer even at loss.

~~~~~Bitcoin will 'win' in the long run because of the supply and demand law, but you can only live in the present.

  yeah, "live in the present" matters a lot to humans but never to forget to live for tomorrow.

[The Cryptovator]

Bitcoin is as safe haven for who have understood its circumstance. Not for who only expect high return from bitcoin. We should know very well regarding volatility of cryptocurrency especially it's more on bitcoin. It would become hell for someone if they bought on $20K and they do not sold and price become at $3K. Holding bitcoin isn't the identity of the intelligent always and I had realized that. Who can take real time decision, obviously bitcoin is haven for them either price drop or grow.

[Dmitri Pavarov]

Bitcoin fell some days ago and many were of the opinion that, there's no need to hold the said cryptocurrency because it was not able to stand against the coronavirus epidemy. During the crash, the percentage of the fall was more on Bitcoin than the fiats(stocks), but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.

“It may sound crazy, but I think it takes $700bn to over a $1tn to stabilize the markets. The last few weeks are a prime example of why digital assets, namely Bitcoin, have a place in the global markets.”  Bill Herrmann.

No doubt that Bitcoin is a Safe Haven and not what others speculated about it being weakest  during the crash.

Do you still insist that Bitcoin isn't a Safe Haven?

Simple answer to this simple question, do you want change of the current financial system? Do you invest based on the technology the is written on the white paper? Or, are you here because of fiat gains?

The Debt problem now is creating more children slaves in the future. To win against it, hodling bitcoin means fighting banks! Bitcoin is created to fight banks and not an investment scheme. Changing our mindset today will free our children tomorrow. Think about it.

I know we deal on the present and lived happily with big gains but is that really your sole purpose on coming out on earth? There are a lot of things money can't buy. Time is more valuable than anything else, so why not share your time to make an impact of how to shape the future for good. The time to ACT is NOW! Don't waste time on your selfish mindset. Be Open Minded and let us all be free.

[mk4]

I personally think bitcoin could be a safe haven against hyperinflation, but probably not against a recession(at least in the short term). I know bitcoin dropped A LOT in just a day compared to other assets, but let's not act like gold didn't drop significantly too. Knowing that gold has been the "safe haven" since who knows when.

[Darker45]

I am now trying to reevaluate my initial stand on this. The recent huge drop of Bitcoin's value is a clear reminder to all of us that the safe haven that we used to consider is not really something that would defend our money' worth whenever there is a crisis. Just recently, everything was falling. What if those who are into the traditional market went into Bitcoin believing that it is the best option to control the free-fall of their value? They would have jumped from the frying pan into the fire.

For the sake of argument, in the traditional market the government, in coordination with the central bank, could inject a huge sum of money to somehow put stability to the market which is otherwise already swirling down the drain. What do we have like this in Bitcoin? Government bonds for now seem to be a safer option. Well, that depends on where we are viewing things.

[Becky666]

~~~~
Do you still insist that Bitcoin isn't a Safe Haven?

Simple answer to this simple question, do you want change of the current financial system? Do you invest based on the technology the is written on the white paper? Or, are you here because of fiat gains?

The Debt problem now is creating more children slaves in the future. To win against it, hodling bitcoin means fighting banks! Bitcoin is created to fight banks and not an investment scheme. Changing our mindset today will free our children tomorrow. Think about it.

Your type is what we need right now, you're absolutely saying the whole truth. We'll need to fight back these oppressors from the world, they're everywhere even in my country Nigeria. They have kill the whole system and enslaved us and our children yet unborn, we need freedom and we must be free from their tyranny. Take a look at  this:

(off-Topic reply)
"The N10.59 trillion 2020 budget in December 2019. Meanwhile, the budget, which is 18.8% higher than that of 2019, is largely expanded to service debt." Facts

The strongest force for Bitcoin is Bitcoin community and not those who fall in love when there's bitcoin bubble and turns hatred when it's at bloodbath. Standing with Bitcoin will help take over our freedom form these selfish individuals and institutions who derive pleasure in enslavement. Let's be on records that we will all fight with the last blood until what belongs to us come back to us.

~~~~ The time to ACT is NOW! Don't waste time on your selfish mindset. Be Open Minded and let us all be free.

Definitely, we must tell the truth that: Bitcoin is the only SAFE HAVEN and nothing more.

[jacafbiz]

The issue here is that so many exchange products are hurting Bitcoin, I doubt that some of these exchanges even have their customer Bitcoin, so a time like this they use it as opportunity to make the most out of the market, remember they always win, because when you buy you pay trading fee and when sell you will still pay

[Viscore]

Haters are saying the truth, the reason they hate bitcoin because they don't believe in bitcoin.
They are certainly laughing at us now because bitcoin had dump a lot and they will feel they are right, but we believers would feel the opposite way of course.

just let them do their thing, you can't please everyone, haters gonna hate.

[tomahawk9]

No doubt that Bitcoin is a Safe Haven and not what others speculated about it being weakest  during the crash.

The price went down 50% in the last month. This is literally the worst time to say that Bitcoin isn't weak.

I personally think bitcoin could be a safe haven against hyperinflation <...>

This is a fallacy, and one of the oldest one in the cryptosphere.

According to the IMF, inflation in Venezuela reached 200,000% in 2019^[1], when you ask the average venezuelan if they use Bitcoin they'll tell you "wtf is dat?","i don't know how to use it" "i don't like it". All you hear is people using fiat like USD or Euro and other payment processors such as Paypal, bank transfers or Zelle (source: got some friends there). I mean, seriously, that country is fucked (and any other developing country with hyperinflation), the last thing the people living in that hell need is to put their hard-earned money on a crypto that could crash 30% overnight.

So, no, BTC isn't a safe haven for hyperinflation.

1. https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN

[arwin100]

Haters are saying the truth, the reason they hate bitcoin because they don't believe in bitcoin.
They are certainly laughing at us now because bitcoin had dump a lot and they will feel they are right, but we believers would feel the opposite way of course.

just let them do their thing, you can't please everyone, haters gonna hate.

Those people are mostly playing on stock and afraid with fluctuation of bitcoins, maybe they are laughing for now but in the other hand but I think they are also victim on the recession since if they are playing with stock market for sure they lost their money since the current situation there is burning as hell.

I think that people have different opinion what safe haven is. For me, it can be anything with such drops like crypto

Many people have different opinion since we have different opinions for this matter and yet not all people use some bitcoins so provably majority will go for gold especially if they see how bad the crypto market these days.

[imstillthebest]

what do you expect from them ? they are called haters because they hate it and they will just lie . for us lovers of bitcoin we know the truth . im also a bitcoin lover but to call bitcoin a safe haven for your money is not alright in me . btc is risky/unstable  thats why but if you mean safe heaven to avoid the risk of using a fiat/physical medium due to the virus infection that is happening right now then yes . we must use btc or even not btc but as long as we avoid any physical contact/touching for now to avoid the risk of infecting the deadly virus .

[The Sceptical Chymist]

the percentage of the fall was more on Bitcoin than the fiats(stocks)

Stocks are not "fiat" and I'm not sure if this is a language barrier or a misunderstanding on your part.

but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.

I seriously don't understand your reasoning here.  Maybe I'm not up to speed on what the Fed is doing, but where exactly did they inject that amount of money?  Even if the Fed bought $168 billion worth of stocks, which I'm sure they didn't, it still wouldn't be enough to keep the entire stock market from nosediving, which it did and probably will continue to do.  And given that bitcoin receives zero support from any government, I'm not sure why you'd consider it a safer haven than stocks, for instance (I don't consider the stock market to be a safe haven, btw). 

I think OP really needs to think about what a safe haven asset really is.  It's something investors buy when there's too much volatility in other markets--in other words, something that's not going to crash.  It's an asset that probably isn't going to lose money for the investor.  Now I ask you: do you seriously think bitcoin is a safe-haven asset?  My answer would be a resounding NO.

[mk4]

I personally think bitcoin could be a safe haven against hyperinflation <...>

This is a fallacy, and one of the oldest one in the cryptosphere.

According to the IMF, inflation in Venezuela reached 200,000% in 2019^[1], when you ask the average venezuelan if they use Bitcoin they'll tell you "wtf is dat?","i don't know how to use it" "i don't like it". All you hear is people using fiat like USD or Euro and other payment processors such as Paypal, bank transfers or Zelle (source: got some friends there). I mean, seriously, that country is fucked (and any other developing country with hyperinflation), the last thing the people living in that hell need is to put their hard-earned money on a crypto that could crash 30% overnight.

So, no, BTC isn't a safe haven for hyperinflation.

1. https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN

It might not definitely be the best option especially today with it's low liquidity and that the USD is definitely superior in this case, but it's an alternative. I'd personally take a chance of a 30% crash overnight compared to a guaranteed daily drop of a certain percentage.

[Twentyonepaylots]

Haters are saying the truth, the reason they hate bitcoin because they don't believe in bitcoin.

But being a hater already means that their opinion is biased ( for most ), The fact that they don't believe in bitcoin is already a lose lose and you will know the old shit they will talk about it.

They are certainly laughing at us now because bitcoin had dump a lot and they will feel they are right, but we believers would feel the opposite way of course.

They could be laughing today but we'll see their faces in the future. lol. The recent dump is already an indication of a huge push up of the price that will cause a spurt hitting the medias.

just let them do their thing, you can't please everyone, haters gonna hate.

HATERS GONNA HATE, we cannot do about it anymore.

[Becky666]

the percentage of the fall was more on Bitcoin than the fiats(stocks)

Stocks are not "fiat" and I'm not sure if this is a language barrier or a misunderstanding on your part.

Believe me, that is a typo error from my end. Stocks are different from fiats, it might interest you to know that: I came around from stock and pretty have some average ideas on it.
 

but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.

I seriously don't understand your reasoning here.  Maybe I'm not up to speed on what the Fed is doing, but where exactly did they inject that amount of money?

That money was injected into their financial system and it was 82% higher than all the investment made into Bitcoin so far. You can check the article for clarity in the OP.

I think OP really needs to think about what a safe haven asset really is.

1Bitcoin =1Bitcoin: this make me believe that it is a safe haven. Bitcoin was made for p2p exchange and not a currency.

[HardFacts]

Being too optimistic or pessimistic is not always good.

Being DELUSIONAL is not good.

The LIE of BitCoin as a safe haven asset and Digital Gold is dead.   Investing on HOPE and emotion is a sure way to get wiped out.

The problem is the people here, they are all reinforcing each others hopes of dreams of getting rich, which does NOT allow them to see reality. 

You can ignore reality, but you can not ignore the CONSEQUENCES of ignoring reality      The financial losses will be just as real no how much you guys try to deny it and follow each other off the cliff.

Hard Facts

Those who think Bitcoin isn't a safe haven should revisit the Bitcoin whitepaper to get their facts straight, Bitcoin is a pear to pear exchange and not a fiat currency.

This is NOT, NOT, NOT a typical crypto up and down...

Bitcoin only has a history in a BUBBLE economy, where everything has been going up ( never in up in a straight line, but generally up ).   Bitcoin has never been tested in an economic CRASH before.   Now that this test has come, the lie of Bitcoin being a safe haven, or Digital Gold has been exposed.   The CRASH is going to get a lot worse, and BitCoin has a lot further down to go. 

TOTALLY OBVIOUS FACT:   Do not believe every whitepaper you read      More people are selling than buying.   Any rational person would be VERY WORRIED right now.   I have invested into Bubbles before, and lost a bunch of hard earned money....    But I was rational and honest about my stupidity, educated myself, and never made that mistake again.

Hard Facts

[kryptqnick]

Bitcoin fell some days ago and many were of the opinion that, there's no need to hold the said cryptocurrency because it was not able to stand against the coronavirus epidemy. During the crash, the percentage of the fall was more on Bitcoin than the fiats(stocks), but reasons be that, The US Fed injected into the crashed market $168bn which in percentage is more than the current investment on Bitcoin. Possibly, this was the major reason while the fall was more on Bitcoin.

“It may sound crazy, but I think it takes $700bn to over a $1tn to stabilize the markets. The last few weeks are a prime example of why digital assets, namely Bitcoin, have a place in the global markets.”  Bill Herrmann.

No doubt that Bitcoin is a Safe Haven and not what others speculated about it being weakest  during the crash.

Do you still insist that Bitcoin isn't a Safe Haven?

I agree with you. The thing with centralized money or business is that the market doesn't dictate the rules there that much, and by pouring money it, setting a fixed price of something and similar things it's possible to make it seem like things aren't that bad. But where do you think these 168 billion dollars came from? I'm almost sure they were just printed because right now there isn't exactly an area from which you can pull out some gov support and take it elsewhere. Eventually, such actions are bound to lead to hyperinflation, and I fear that it might actually hit the USD this time. Bitcoin doesn't feel safe these days, but I am being patient and holding it as I don't believe there's anything safer anyway.