Quote from: 687_2 on March 19, 2020, 09:46:53 AM

I think there are a number of factors which will drive up the price of Bitcoin sooner, rather than later. Maybe the pump comes this summer.

People are concerned about the money they have in the bank. In the US there is no reserve requirement now, and with the supply of dollars increasing massively (and negative interest rates in Europe) people are actively looking for a place to store and protect their wealth.

Physical cash is an option, but it can be devalued overnight, is easily stolen at borders, and is difficult to convert to electronic format.
Gold is an option, but it has the same problems as physical cash (or worse). The only benefit of gold over cash is that it is impossible to devalue. But you still have to pay to store it (same effect as negative interest rates) and there are problems with price manipulation.

Securities are not a good place to be either, as the organizations offering them might very well go bankrupt and never be able to pay dividends in the future.

The only safe haven seems to be Bitcoin. It is the only commodity humans have which is portable, divisible, and can be transported through time without any loss.

After people realize this, and after the new supply of Bitcoin is cut in half, the price of Bitcoin will go wild.

Gold doesn't have the "impossible to devalue" benefit. Take a look over the 3M charts and see what I'm talking about. Gold is unfortunately of no help in these times either. Nothing is, as far as I'm concerned. Literally everything is falling. It's like an everything-bubble, contrary to what I thought the bubble was made of. Manipulated or not, gold is unfortunately decreasing in value too.

At this exact moment I think holding cash is the best thing you can do for the short term: if you hold anything else, be it Gold, BTC, stocks or whatever you want, the decrease of their value + the inflation of fiat will make you crazy. But fiat will not hold on for much longer. Long term obviously looks different: as soon as the columns holding the economy start breaking down, gold & BTC will probably jump straight into the safe haven area.

Gold vs BTC is a debatable subject. Gold isn't portable but is tangible. BTC requires technology and internet connection but gold can be faked and so on. I thought gold would be the first to pop up as a safe haven during an economical crisis, but apparently no. Moreover, I bet people will start being afraid to trade physical gold because "the virus can live on its surface".

I have no idea, man. I feel helpless when it comes to safe haven assets in these times.