Is Bitcoin a safe haven?

[Shasha80]

To be honest, after Elon Musk withdrew a significant part of bitcoin from his turnover, and then bitcoin crashed, I really started to worry about my bills.

Why you should be worried? The impact lasts in a short time, maybe around a few weeks. After that, the Bitcoin price will be increasing again. It is normal if there are FUDs or more supply in the market, the price tends to drop a moment. But it won't last a long time (not for years), then the price will increase again gradually. Moreover, if there is positive news about Bitcoin, the price will increase easily.

It's true, don't worry too much about the circulating FUD, because the effect won't last long. Moreover, if we study Bitcoin correctly, we will understand
that Bitcoin always recovers quickly when it experiences a price decline. It is evident that now the Bitcoin price is slowly starting to rise again,
after being below $40k for a long time. The most important thing when investing in Bitcoin is to control our emotions to be more patient to wait
for the Bitcoin price to rise. Bitcoin is indeed a promising asset and can give us the opportunity to become rich, but it cannot be achieved instantly.

[Quidat]

To be honest, after Elon Musk withdrew a significant part of bitcoin from his turnover, and then bitcoin crashed, I really started to worry about my bills.

Why you should be worried? The impact lasts in a short time, maybe around a few weeks. After that, the Bitcoin price will be increasing again. It is normal if there are FUDs or more supply in the market, the price tends to drop a moment. But it won't last a long time (not for years), then the price will increase again gradually. Moreover, if there is positive news about Bitcoin, the price will increase easily.

It could be taken down in terms of its price but it could simply recover later on as a typical stuff that do happen.Just dont consider Bitcoin as a safe haven asset because it wasnt created for this purpose but rather
be more focused on  payment  system but since people do have different impressions and views then they do  came up into opposite idea.Always mind off about the risk no  matter how Bitcoin do rise  up
in the future.Always consider back up plans in terms of your investment, look for alternative so that you wont be ending up on waiting if the market tends to be  bad.

[wilkine]

Maybe not 100 percent. But comparing with most other assets, yeah, Bitcoin is safe and people believe it will bring new financial order.
But investemnt is still risky, better do your own research before buying the dip.

[BobK71]

I corroborate bitcoin as a safe haven. According to many financial experts believe that Bitcoin investing is a vital asset for an investment portfolio as it can provide security during economic recessions. In other words, investing in Bitcoin cryptocurrency could be a good investment during difficult economic times. Bitcoin just like gold. The price of Bitcoin has been rapidly increasing in recent months  and years amid the COVID-19 pandemic. If Bitcoin gives a green signal in crises moment then it can be called as safe haven.

[nurilham]

Moreover, if we study Bitcoin correctly, we will understand that Bitcoin always recovers quickly when it experiences a price decline.

For the current bullish season, what you said is true. Bitcoin recovers quickly whenever there is a dump on the Bitcoin. But if it is in the bearish season, I doubt the Bitcoin price can recover as quickly as in the bullish season. The demand to buy Bitcoin is not very big as in the bullish, so we must be more careful when we are already in the bearish season.

[dunfida]

Moreover, if we study Bitcoin correctly, we will understand that Bitcoin always recovers quickly when it experiences a price decline.

For the current bullish season, what you said is true. Bitcoin recovers quickly whenever there is a dump on the Bitcoin. But if it is in the bearish season, I doubt the Bitcoin price can recover as quickly as in the bullish season. The demand to buy Bitcoin is not very big as in the bullish, so we must be more careful when we are already in the bearish season.

What goes up must come down and what comes down have always the chance or possibility of going up and this is how people should be thinking off.Calling it a safe haven cant really be fitted out on any investment.

There would always be a risk on whatever you do as long you are aiming for getting profits then you should take a risk.Dont think about being safe or risk-free because it wont be called investment if you dont risk out.

Be prepared on the risk but if you dont like on losing money then this market isnt really for you.

[oemar bakrie]

people's views about bitcoin are indeed one of the main roads for investment, but not everyone will do that because there is still a risk that will happen,, it is safe in real terms there is no calculation of taxes or fines, but on the one hand there are still weaknesses becauseno institution will be fully responsible if we lose bitcoin assets, and now there are lots of fraudsters who can enter freely in our storage area.
so in my view there is a risk, it's up to us how to keep the security private.

[iTradeChips]

If you are talking about being a safe haven from hackers and criminals, then I would say no to this one. Of course we can say that it is digital and it is with the user or the owner of the wallet whether he is responsible for making the wallet secure. Even if the wallet is secure then we can take into consideration the possibility of criminals taking over the wallet if they know who the owner is and where to find the location of the person. Also other than criminals and hackers is also the government. If you got filthy rich and the government wants taxes, then I do not see how they would not be able to get it from you or be able to know your identity. The world is scarier than ever when it comes to having a digital lifestyle and being anonymous is concerned.

[jamkesmas]

Bitcoin is one of the diversified assets capable of securing wealth in times of economic recession, as is happening right now in the midst of a pandemic that has thrown the world economy into chaos and impacted us, when it comes to dealing with the banking system for our financial purposes. But with bitcoin, of course we can do everything very safely and easily in the midst of world chaos.

[lepbagong]

I corroborate bitcoin as a safe haven. According to many financial experts believe that Bitcoin investing is a vital asset for an investment portfolio as it can provide security during economic recessions. In other words, investing in Bitcoin cryptocurrency could be a good investment during difficult economic times. Bitcoin just like gold. The price of Bitcoin has been rapidly increasing in recent months  and years amid the COVID-19 pandemic. If Bitcoin gives a green signal in crises moment then it can be called as safe haven.

the very precise and enlightening opinion that has been said above is something that bitcoin deserves. because it is clear bitcoin will continue to increase from year to year and will not go down if we invest long term. at least, when the halving starts, we can be sure that the investment we have invested will reach a higher level when the next halving occurs and this cannot be denied, it can certainly happen.

so that bitcoin is already like a treasure stored and where when it is found it will increase in price. no wonder many make bitcoin a profitable investment compared to other investments.

[junmisakiro]

To be honest, after Elon Musk withdrew a significant part of bitcoin from his turnover, and then bitcoin crashed, I really started to worry about my bills.

Don't worry too much about the FUD throw published by Elon Musk, believe me this will only make the price decline for a while and will never be able to stop bitcoin's journey, we have seen that bitcoin is able to last more than a decade, and is able to get through the gloomy times throughout 2017, when negative news about bitcoin circulated almost every day, but it did not make bitcoin lose its price.

[Samandra]

The development of Bitcoin has proved to us that it can be used as a safe haven.

Inflation caused by the government's large increase in fiat currency can easily lead to economic crisis. Compared with fiat currency, bitcoin's scarcity in quantity can effectively alleviate inflation. In times of economic crisis, bitcoin is relatively safe.

[Veter2000]

The characteristics of Bitcoin make it an extremely attractive investment. Bitcoin transactions do not require third-party authentication and can be free from the control of governments or banking systems around the world.
In times of crisis, people are uncertain whether banks can continue to operate, and confidence in the banking system or its government support often falls to the point of bank runs, and there is little reason to believe that banks will continue to operate. Bitcoin is global, so there is no reason to doubt that it will continue to operate. This means that if there is an economic recession, banks and governments will face solvency issues, making their services somewhat risky, and Bitcoin looks more stable. Bitcoin is outside the banking system, although its price fluctuates, cryptocurrencies can sometimes provide better long-term stability than real-world currencies that are more volatile.

If we look at the decentralized side offered by bitcoin, bitcoin may be able to give us freedom during an economic recession, but if we look at the price side, bitcoin is not a safe asset to shelter during an economic recession because bitcoin has high volatility so it becomes one of the obstacles to bitcoin if we use it as a hedge asset, because it is very risky in the short term.

Quite right. In the short term, Bitcoin is not a safe asset. In fact, in a long-term asset, bitcoin does not give a guaranteed profit, and that is why, due to its risky nature, it can give high profits in the long term. In investing, risk always comes with high potential returns.

[swiftbits]

The development of Bitcoin has proved to us that it can be used as a safe haven.

Inflation caused by the government's large increase in fiat currency can easily lead to economic crisis. Compared with fiat currency, bitcoin's scarcity in quantity can effectively alleviate inflation. In times of economic crisis, bitcoin is relatively safe.

Yes, it surely has potential; bitcoin is easy to use and not hard to adopt by people of all ages.
If we chose crypto to use as an alternative to fiat, we would choose the prime one.

One of the few things that made me doubt it is about the relevancy, there are many innovative crypto platforms that could possibly outperform it.
Bitcoin could stay longer, but I do think we already experienced most of its convenience.

[witcher_sense]

Quite right. In the short term, Bitcoin is not a safe asset. In fact, in a long-term asset, bitcoin does not give a guaranteed profit, and that is why, due to its risky nature, it can give high profits in the long term. In investing, risk always comes with high potential returns.

In today's world, people have to take on risky investment decisions just to stay afloat. People buy stocks, government bonds, gold, etc. in order to protect their money from the high pace of inflation. Sometimes it works, sometimes not. The thing is these measures still aren't sufficient enough to outperform inflation. Stock prices are rising because of monetary expansion, the gold price at ATH because the US dollar is weak. But inflation is growing faster and, which is a more important fact, unpredictably. That is why we need bitcoin: it protects us from fiat currency debasement by being the most scarce asset in human history, it makes our future less uncertain and the consequences of inflation less severe.

[cheezcarls]

Because Bitcoin and other cryptocurrencies are subject to volatility, there’s no way for us to see this as a safe haven. I could say that this is a great alternative for us to put our savings without third party interference. However, risks are always there and you have to acknowledge.

Bitcoin isn’t designed for short-term, but it is long-term. Make sure that only invest what we can afford to lose and learn how to manage our risks on Bitcoin.

[suryana]

To be honest, after Elon Musk withdrew a significant part of bitcoin from his turnover, and then bitcoin crashed, I really started to worry about my bills.

No need to worry mate. But I understand your concern because it happened so fast because of the panic of all bitcoin holders. But I believe bitcoin is one of the safest coins for me to invest. And it's true, now btc has bounced back.

[vania vin]

I agree with the comments of my friends above that bitcoin is the safest way, it is proven that Satoshi Nakamoto's wallet is still safe until now, no one has been able to break into Satoshi's wallet until now, maybe even Satoshi's wallet will not be able to break into it, if your wallet can be hacked by other people means that you cheated yourself because you did not store the key properly then your key will be known by others so your assets can be taken by someone else.

[Kasabus]

To be honest, after Elon Musk withdrew a significant part of bitcoin from his turnover, and then bitcoin crashed, I really started to worry about my bills.d

No need to worry mate. But I understand your concern because it happened so fast because of the panic of all bitcoin holders. But I believe bitcoin is one of the safest coins for me to invest. And it's true, now btc has bounced back.

Bitcoin is definitely a life changing for me so i agree that bitcoin is a safe haven. I think others may see it not a safe haven because of the government negative views on bitcoin and cryptocurrency for now. But if the government starts to welcome and support bitcoin in the future, those people who never see bitcoin as a safe haven will eventually change their perception too towards bitcoin.

I think it's just a matter of time. As soon as everyone gets educated on bitcoin, things will definitely favor into bitcoin being a good currency and a profitable investment.

[blckhawk]

In my opinion, it's not the greates safe haven but it's a decent one. The volatility is what scares me the most to go all in with my investments in bitcoin, which is bad I know but at the same time I want to play it safe, bitcoin's here to saty so no worries. Some might say it's a safe haven but for me, it's just not for me.