Post
Topic
Board Speculation
Re: Nice terror attack effect on bitcoin?
by
maku
on 16/07/2016, 01:55:44 UTC
Bitcoin don't seem to care about the coup attempt in Turkey either...
Why would it care?  Why would any world news affect the price of bitcoin?  Bitcoin isn't a safe-haven asset.  Look at the price today compared to two months ago--we went from 420 to over 700 very quickly, and that isn't safe.  It could easily have gone the other way.  Besides, everyone knows what gold is and have a good idea that it's a place to park money in turbulent times.  Not a hell of a lot of people know or care about bitcoin.  And most of the ones who do are smoking cigarettes in the dark.
While bitcoin is is not safe completely asset in times of crisis it is far more reliable that any national currency. There are problems with reaching for money in Turkey right now.
ATM are being beset by masses of people who want to withdraw everything. If these people would own bitcoin instead of cash they wouldn't have to worry about their money at all.