Is Bitcoin a safe haven?

[bhooscream]

We can't really tell an investment especially in crypto to be a safe haven. Even if we are talking bitcoin here, still the risk is there. Considering that its price is still very volatile.

Agree. No crypto investment is really secure and no risks. Bitcoin also has risk, although it is relatively quite safe if we compare it with new altcoins. Bitcoin price is unpredictable, it can increase and decrease masively in short time. If someone targets to take profits instantly or in a short time, he may be not patient and just sell the Bitcoin even he gets loses. So, Bitcoin investment is not a safe haven and no guarantee to earn profits.

[Hippocrypto]

As for now, I considerably view bitcoin as safe haven for our asset while the development and progress went straight everytime it recovers from recent falls. We can't stop what has been predicted long time ago, Fud and other fomo has nothing to do with it even though they paid expensive articles just to fool people and have anxieties.
People now learned a lot from their frustrations and bad experiences and in reality they became more fearless nowadays.

[Victor333]

The factors behind Bitcoin’s rise

 Another part of the infographic is dedicated to explaining why Bitcoin’s value is increasing, and it cites limited supply, increased mining difficulty, and that it is used as a medium of exchange and anti-inflation safe haven.

 This is in line with the remarks recently made by Morgan Creek Digital Assets co-founder Anthony Pompliano, who said that the European Central Bank’s expected dovish turn will provide “rocket fuel” for Bitcoin.

 Furthermore, the infographic does also mention the infamous Mt. Gox hack, the risk of speculation, and stories of lost funds. According to the image, Bitcoin’s main use case is international settlements since its fees are low compared to legacy system while transactions are faster.

 As Cointelegraph reported yesterday, the CEO of Chinese tech giant Huawei thinks that China can compete with Facebook for market share by issuing its own digital currency.

 Earlier this month, Chinese media reported that China’s central bank, the People’s Bank of China, is developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system.poted on victor333

[Ridi]

We can't really tell an investment especially in crypto to be a safe haven. Even if we are talking bitcoin here, still the risk is there. Considering that its price is still very volatile.

Agree. No crypto investment is really secure and no risks. Bitcoin also has risk, although it is relatively quite safe if we compare it with new altcoins. Bitcoin price is unpredictable, it can increase and decrease masively in short time. If someone targets to take profits instantly or in a short time, he may be not patient and just sell the Bitcoin even he gets loses. So, Bitcoin investment is not a safe haven and no guarantee to earn profits.

Yes I totally agree with you that it is secure and safe compare to crypto and It is digital transaction and you are the owner and of course depends upon the person that how much he or she knows about bitcoins work or investment so that he or she can invest in a right way on a secure manner.

[Qirtov]

Bitcoin being used as an investment tool is a good decision, but if it is used to store money it is not good. We all know that the market is volatile, which makes bitcoin less secure when it comes to storing your money. Although Bitcoin has a high level of trust from some of its users, we must still be careful because Bitcoin is digital and difficult to control. So we better be more vigilant not to be careless and make mistakes.

[zanezane]

Not entirely a safe haven, unless you are on the long-term, it's good investment and safe haven but if not then you're money invested in it will be more prone to volatility and more likely to cause you some stress because prices go down erratically daily and those movements can sometimes cause you panic which eventually leads to losses.

[Kayum10029]

bitcoin feels very safe to store the assets that we have today because bitcoin has high enough security so it is very difficult to be broken into by hackers, and also the bitcoin system has very broad control, especially by its users, so we can easily see our assets in the crypto world

Investing in Bitcoin is like keeping money in a bank. However, banks offer profits at fixed rates after a certain period of time, but if you invest in Bitcoin, you have two possibilities.If you don't get profit overnight, you will lose. However, if you invest for a long time, you are more likely to get a big profit.

[Veter2000]

bitcoin feels very safe to store the assets that we have today because bitcoin has high enough security so it is very difficult to be broken into by hackers, and also the bitcoin system has very broad control, especially by its users, so we can easily see our assets in the crypto world

Investing in Bitcoin is like keeping money in a bank. However, banks offer profits at fixed rates after a certain period of time, but if you invest in Bitcoin, you have two possibilities.If you don't get profit overnight, you will lose. However, if you invest for a long time, you are more likely to get a big profit.

Precisely because the profit when investing in bitcoin is not guaranteed in any way, investing in bitcoin cannot be compared with investing in bank deposits. In bank deposits, the profit at the end of the term is guaranteed, the end date of the deposit is known, and the funds are insured by a third party. Investing in bitcoin is similar to investing in stocks, profits are not guaranteed, there is no insurance against a decline in stock prices, and the investment horizon depends only on your patience.

[taufik123]

Not entirely a safe haven, unless you are on the long-term, it's good investment and safe haven but if not then you're money invested in it will be more prone to volatility and more likely to cause you some stress because prices go down erratically daily and those movements can sometimes cause you panic which eventually leads to losses.

Investment must be long term. if it's not an investment and you just want to make a quick profit it's more accurately called trading. Because investment takes a long time with a predetermined target. people who panic will not be able to survive because bitcoin's volatility is very high. Bitcoin is not a safe place for those with untrained psychology. Investing in bitcoin will only give you losses if it is not done patiently.

[Vector59]

I think Bitcoin is a very good coin for me. Mancutens believe in a safe sanctuary for our resources. But with the help of other forems, people provide expensive considerations to fool people. Many people from their frustration and bad experience A method of Bitcoin is the last stability process and its system's stability is its network security. In the legal currency system, the short-term price stability at the process of unstable phase is absent. These steps can lead to the financial system's instability. Bitcoin price may be more stability in a short term of bitcoin market. According to digital currency, unexpected falls may be less than the consistency of the highly unstable market prices of stability and may be less than the consent of taking resources as a safe sanctuary.

[MIldic1c]

If you want to use Bitcoin as a haven for your assets, the risk is very high, and no one can guarantee that tomorrow’s price will be stable. Anything with value or a market will fluctuate in price. The price of Bitcoin will fluctuate due to many reasons. Investment requires rational analysis!

[Abiky]

Investing in Bitcoin is like keeping money in a bank. However, banks offer profits at fixed rates after a certain period of time, but if you invest in Bitcoin, you have two possibilities.If you don't get profit overnight, you will lose. However, if you invest for a long time, you are more likely to get a big profit.

No one said Bitcoin was meant to appreciate in value over time. Individuals like you and me are the ones who determine how much a Bitcoin is worth (instead of a central authority). Whenever it's a safe haven or not, that's up to the investor to decide. One thing for sure is that Bitcoin was designed to be a deflationary cryptocurrency. Supply is extremely limited, making Bitcoin as similar as other assets like Gold and Silver.

Back in the day, 1 Bitcoin was worth just pennies (in USD). Now it's worth thousands of dollars per coin. If it continues to rise, we might see a Bitcoin worth one million dollars. The crypto market behaves in many strange and bizarre ways so anything can happen in the future. Just my thoughts

[KennyR]

Bitcoin is a safe haven. Anyone can invest without fearing about the future growth, but before investing it is a must to learn and know about its market. Because, there are lot many people who just believe in making money without understanding the market. It is possible, but at the proper time we need to make the proper trade execution to make money or we need the ability to hold.

It has been serving in multiple ways and this being a safe haven isn't a big thing. Because when something gets an increase in value, it means it has been growing with time. So is our bitcoin and same indicates it being a safe haven.

[Kusman]

As long as Bitcoin's volatility maintains, Bitcoin will never be a safe haven completely. One cannot trust Bitcoin in every case. Because of the high volatility, it can make the Bitcoin owner lose a lot of money suddenly. We have seen a recent example also. And I think that this volatility rate will never go down. It is one of the main features of Bitcoin that can't be changed. Actually, there is a way to change as far as I know but it is nearly impossible.

[7788bitcoin]

~
Maybe you are right but the truth is that we can't consider the investment is a safe haven if we know how risky it was. if we just know that Bitcoin will reach $100k 1 or 2 years from now, that is absolutely we can consider it but we won't and that makes it so hard to think that we are totally safe plus the hackers around us.

This can be a heavily debatable topic because there is nothing like a safe heaven in any financial market. Everything works in a sine wave, you have the highs and you have the lows. The person who is able to manage these market movements will make money.

Lets say before the halving everyone had the opportunity to invest and it was certain that the market would go high and it was not rocket science either and if you invested well before that it was a safe heaven but right now you cannot invest and claim it to be a safe heaven as the entry is more important in any financial market.

When it comes to hackers, the hackers are not going to breach the blockchain technology, they can only manipulate the end user or steal the funds from exchanges, have you heard about any hacker cracking a wallet. So this worry for hackers is unnecessary. All you need is to learn how to safe guard your cryptocurrency and you are good to go.

[Spack17]

It depends actually. Normally, I wouldn't use Bitcoin like I use fiat currency. I mean that I wouldn't invest most of my money into Bitcoin considering the high volatility. I would make an investment with a good amount of money for a long term. And I would set a price goal to sell. If Bitcoin price reaches that level, then it can be a safe haven for me. Because I can use my savings in Bitcoin when I need a big amount of money. It can be my savior in that case.

[Marcorey]

Bitcoin is a decentralized cryptocurrency. It will not be regulated and manipulated by government agencies and can provide a safe economic guarantee in the event of an economic recession.
But bitcoin is also risky. Its price is unstable and volatile, short-term transactions will have greater risks, long-term holding is profitable and can obtain high profits.

[NelfiNovita]

The financial crisis in the banking system has worried the whole world feeling the impact of this crisis.
if we take full refuge in bitcoin then we will also get a very big risk because of the unstable bitcoin price.
I think it would be better if the government provided assistance in the form of tools to mine bitcoins to its people so that people could mine bitcoins at home, this is very useful especially during a pandemic like now.

[sisikin]

Well, I completely disagree with the previous answers.

Bitcoin is not only a simple safe haven, it is the best safe haven in the world.

It is the best way to store your wealth. It is the most difficult to confiscate and the easiest to transport. That is why it is the best safe haven.

You can take $1B around the world very easily, or you can send it to the other side of the globe in no time for a ridiculous amount of money.

Try to take $1B of real estate or gold, or fiat currency around the world. Or try sending it and compare. 

Bitcoin is not nominally a real safe haven.
Investing in Bitcoin is also risky.
Compared to gold, Bitcoin is easy to carry and trade. This is one of the advantages of Bitcoin.

[Assface16678]

Bitcoin could be viewed as an alternative to banking system, and we don't need to deem it as safe haven. Actually there's no asset that is safe, even gold and oil fluctuates.

What bitcoin can offer is that it can somewhat been a leverage, but we have to understand that it is very volatile as well, so that risk is high.

This is the truth, never ever expect that bitcoin is a safe haven because of its volatility. This is one of the reasons why newbie loss because their mind set is that btc will double their investment in no time. Bitcoin only offers a similar like banking system, in which the prices depends on the market. Those who will try to enter must have a proper knowledge at first and research must be done.