Is Bitcoin a safe haven???

[FlamingFingers]

In my opinion I think bitcoin might be called a safe haven if you are only in for the long term, imagine having bitcoin as a safe haven back in ten years ago, regardless of the volatility and inflation rate surrounding the world, bitcoin has been to the rescue. Shun the volatility and go in for long term

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[sklopan]

I believe that bitcoin is a completely safe investment option. But, I would say that bitcoin is a rather unstable currency that can bring both losses and profits.

[Anguwa]

I think that having Bitcoin might be a good investment but calling it a safe haven might be over exaggeration. We all know how volatile Bitcoin is and how it may be up one hour then it will be down on another. This needs sound mental faculties and lots of patience and discipline if you want to reach your goals of financial independence on cryptocurrency. Surely you can call Bitcoin a safe haven once you have cashed out your millions.

Bitcoin is a secure haven for cryptocurrency.
Consider how the current market situation is: many cryptocurrencies have fallen below their listing price, while BTC has yet to fall more than 60%. For example, Luna is almost dead because it has fallen more than 90% of its price, so we can't call it a safe heaven, but BTC cannot go that low due to the strength of the investors and the worldwide trust in BTC. I still believe in Bitcoin regardless of how the cryptocurrency industry evolves.

[The Cryptovator]

Nothing is safe in cryptocurrency. Bitcoin is called safe heaven because if you buy 1 Bitcoin it always exists 1 Bitcoin. If you buy another altcoin then you can't say you are holding X Bitcoin. You can see the current situation, just Luna crash the whole cryptocurrency market, just not only their coin. So we can't call any cryptocurrency safe. Cryptocurrency investments always remain risky, either Bitcoin or any other. But Bitcoin is quite safer than any other coin. So do your own research.

[m2017]

Nothing is safe in cryptocurrency. Bitcoin is called safe heaven because if you buy 1 Bitcoin it always exists 1 Bitcoin. If you buy another altcoin then you can't say you are holding X Bitcoin. You can see the current situation, just Luna crash the whole cryptocurrency market, just not only their coin. So we can't call any cryptocurrency safe. Cryptocurrency investments always remain risky, either Bitcoin or any other. But Bitcoin is quite safer than any other coin. So do your own research.

Well, to put it this way, nothing is 100% safe and bitcoin or other crypto also carries risks, like any financial instrument. This is easy to see if you remember the past few days and the collapse of crypto market with panicking investors. An unenviable fate awaits those who urgently need money at this moment and all their assets were invested in crypto. Therefore, one should never forget about the volatility of bitcoin and it is best to diversify risks by distributing your funds into different financial instruments. Investing all your money in bitcoin, like putting all your eggs in a basket, as in that saying, as we see once again, is fraught with very unpleasant consequences.

[molsewid]

I think that having Bitcoin might be a good investment but calling it a safe haven might be over exaggeration. We all know how volatile Bitcoin is and how it may be up one hour then it will be down on another. This needs sound mental faculties and lots of patience and discipline if you want to reach your goals of financial independence on cryptocurrency. Surely you can call Bitcoin a safe haven once you have cashed out your millions.

It is not a safe haven for me , don't get me wrong but bitcoin doesn't have a stable value, the last time I check it is around 29k$ last time the price is at 69k$, the price always change because crypto is volatile. Yes you are right it is good investment, holding bitcoin if you buy it today is good, but make sure to check the chart and analyze it first.

[Marvell1]

Bitcoin is highly volatile but if you consider it a long-term holding, it can be considered a safe haven. In the last few days we are going through serious bearish days and people are starting to worry about the value of bitcoin. But this is only a short-term perspective, if you look at the overall picture from 2009 to now, bitcoin increased from 1 $ to 69k $ then bitcoin deserves to be a safe haven.

Besides bitcoin being a decentralized asset, it will be a safe solution for you to hold assets without government or third party intervention. You have full control and use them without notice to anyone.

[KaliLinux]

I believe that bitcoin is a completely safe investment option. But, I would say that bitcoin is a rather unstable currency that can bring both losses and profits.

Losses only if you sell and or if you are leveraging. just as @FlamingFingers just mentioned, Investors should learn how to invest for the long term instead of aiming for quick gains, especially with Bitcoin and we know that the market cannot always be upwards. Imagine you investing to HODL for the next 10years? somehow it is a safe heaven.

[kryptqnick]

To answer the question about whether Bitcoin is a safe haven, we must first agree what we mean by it. Originally, it's a place of refuge, where one can be safe. If we consider the economic meaning, it's, according to Investopedia, an investment that's "expected to retain or increase in value during times of market turbulence".
In both cases, then, Bitcoin is not a safe haven. Bitcoin can go up or down, and it can temporarily succumb to market turbulence. So it's not helpful against volatility because it is itself very volatile.
However, Bitcoin historically does tend to recover, even if it takes a lot of time. Which makes it a good long-term investment and a potential way of saving one's wealth if one believes that Bitcoin will recover again, like it did before.

[7788bitcoin]

In my opinion I think bitcoin might be called a safe haven if you are only in for the long term, imagine having bitcoin as a safe haven back in ten years ago, regardless of the volatility and inflation rate surrounding the world, bitcoin has been to the rescue. Shun the volatility and go in for long term

It is much easier to say that people would invest heavily in Bitcoin ten years ago, anyone who invested knows the risks involved and have taken a chance and they were rewarded, no one knew in the beginning that it will be widely accepted and countries will be using it as a legal tender and a decade later things have changed drastically. Right now i would not consider it as a safe heaven but still if you are smart enough you can make a good profit.

[Dunamisx]

I believe that bitcoin is a completely safe investment option. But, I would say that bitcoin is a rather unstable currency that can bring both losses and profits.

the major plan of how bitcoin operates is to make profits and not loss, most of the losses encountered were as a result of our negligence to caution on how we takes somethings to an extent, moderation is very essential in such a way that we should not be too greedy or over anxious about making a quick profit returns, I've not seen any long term investor of bitcoin regretting their decision in choosing bitcoin but rather had it the best decentralize digital form for a store of value and assets.

[Zanab247]

If you look at the performance until recently, it has behaved like a safe haven, the problem is that if you look at the market over the last 24 hours it doesn't look like a safe haven, but you have to take a broader perspective.

The performance is not encouraging long term investors to sell their coins because the market is not a safe haven. The price has increased a little does not mean it is a safe haven because the price is still moving between $29k to $30k which anything can still happen that will make the price to go up or come down in the market. We are still in bear market which is good for holding to watch the market price very well before releasing for sale.

[justdimin]

I do not understand people who think that gold is a profit making thing, whereas gold is a safe haven. I mean think about it, gold is so slow and barely makes any profit, it does but very small amount over course of many years. I mean if we are aware that we can profit from the current situation in the crypto world, then why care about what's going on in the gold markets?

I would prefer to keep bitcoin as long term and yes it does drop like these days for example but that doesn't change the fact that it is one of the best investments anyone could make right now, and that is why I love it and will not end up changing it to gold or anything else.

Gold is nothing to me, never made any sense to me. It is a "thing" that people gave a lot of value as investment, why not something else? I mean hydrogen is not stored carefully, but that's basically it, they just found something that is a bit more rare and easily storeable and they put some value on it.

Crypto is not like that, you can spend crypto and send it all around the world, sure we did give it a value ourselves but we are using it as well, there is a very limited usage of gold, and when it is used and gone, to a place where we can't recover it, eventually it will be over whereas crypto is used again and again in many different places.

[GeorgeJohn]

I believe that bitcoin is a completely safe investment option. But, I would say that bitcoin is a rather unstable currency that can bring both losses and profits.

Bitcoin is majorly for investment, exchange of goods and services, actually bitcoin i can be said to be the investment which concern's of both losses and profit, but openly known that their is no investment without adventuring into risk, even the offline transaction's or business that we all known has a loophole when you come in terms of business, no currency that's not unstable as you can see this period and no business that doesn't involve lost and profit, so it's the nature traders and enterprenues.

[D ltr]

I'm not saying it's safe because anything can happen, let's take the example of Luna, I'm sure BTC one day will be like Luna if there are no fans,
but I don't deny that bitcoin has given me more than enough financial

[uneng]

Just compare bitcoin to fiat history since the beginning. That is, check the evolution of bitcoin purchasing power since 2009 and now compare to fiat purchasing power also since 2009.

On that time, 1 bitcoin could probably buy me a bubble gum, while 1 unit of my fiat currency was enough to buy me a 20 fl. oz water bottle.
Now, 13 years later, 1 bitcoin can buy a property, while 1 unit of my fiat currency buys less than 10 fl. oz of a low quality water bottle...

Maybe there isn't anything such as safe heaven, but among the disponible alternatives, I think the preferable one is pretty clear when we think about the potential of each of them on long run.

[KennyR]

I believe that bitcoin is a completely safe investment option. But, I would say that bitcoin is a rather unstable currency that can bring both losses and profits.

Bitcoin is majorly for investment, exchange of goods and services, actually bitcoin i can be said to be the investment which concern's of both losses and profit, but openly known that their is no investment without adventuring into risk, even the offline transaction's or business that we all known has a loophole when you come in terms of business, no currency that's not unstable as you can see this period and no business that doesn't involve lost and profit, so it's the nature traders and enterprenues.

Agreed, people also prioritise it as an investment than on other needs. Every form of investment have got risk within it, but what cryptocurrency market have is something bigger. Now users who find cryptocurrency as a way to make money at the shortest would've realised how risky as the market have dropped down drastically. Think of the situation of big bag holders of luna, now they're almost bankrupt if they don't have any other holdings.

[taufik123]

The risk of investing in cryptocurrencies is indeed very large. for anyone who is not prepared to risk price fluctuations then they will regret it. Like the Luna holders who bought LUNA for around $100, they went bankrupt and of course went through tremendous mental stress, millions of dollars instantly became thousands of dollars.

Same is the case with other altcoins or Bitcoin. Bitcoin cannot be used as a safe haven asset because bitcoin has a high volatility. if you have safe haven assets, it is better to switch to gold or property. Bitcoin is only used as a high risk high return investment.

[Mpamaegbu]

I'm not saying it's safe because anything can happen, let's take the example of Luna, I'm sure BTC one day will be like Luna if there are no fans,
but I don't deny that bitcoin has given me more than enough financial

Luna's problem wasn't because it lacked fans. Nope, not that. Luna only started losing fan base when it began to dump massively. It will be the death of cryptos if Bitcoin were to be thrown into the same confused state that Luna is now. Do you know how hard Luna dropped to even compare it with what could happen to the pathfinder Bitcoin? If Bitcoin dumped that much the entire market will evaporate. It's that bad and I don't wish we got to that extent.

[OgNasty]

I'm not saying it's safe because anything can happen, let's take the example of Luna, I'm sure BTC one day will be like Luna if there are no fans,
but I don't deny that bitcoin has given me more than enough financial

Luna's problem wasn't because it lacked fans. Nope, not that. Luna only started losing fan base when it began to dump massively. It will be the death of cryptos if Bitcoin were to be thrown into the same confused state that Luna is now. Do you know how hard Luna dropped to even compare it with what could happen to the pathfinder Bitcoin? If Bitcoin dumped that much the entire market will evaporate. It's that bad and I don't wish we got to that extent.

Obviously Luna and Bitcoin are miles apart.  Luna's function was to dump on people to hold a peg.  It was insane that people were pumping it in the first place.  Looking back, it's easy to see that the opportunity was in the dump, not the pump.  Had I looked into that garbage while it was still running and learned how it operated, I would've shorted the hell out of it any way possible as well. 

If Bitcoin fails, it won't be because it loses fans or some algorithmically designed crash.  It will be because it's payment network becomes compromised and starts freezing payments while it's core network gets too expensive to use.  That's why the core network is being pushed as a store of value while the lightning network's risks are downplayed greatly.