Post
Topic
Board Bitcoin Discussion
Re: Impact of Covid
by
BrewMaster
on 30/03/2020, 17:19:46 UTC
Most people thought that after the virus outbreak, money would go into Bitcoins and other cryptocurrencies
money may go into bitcoin but it almost never goes into altcoins. the bitcoin investors sometimes also buy altcoins to make profit on whatever amount of bitcoin they already have.

Quote
as Bitcoin is considered to be the only ‘’safe-haven’’ asset at the time of crisis.
this is wrong. there are other "safe havens" and bitcoin may actually be at the bottom of that list because of its volatility and lack of mass adoption.

Quote
But Bitcoin collapsed by 15% after the virus outbreak, thereby defying people’s expectations.
first of all that is not a collapse, a collapse would be dropping down to $100. that is not even big crash.
secondly that doesn't change anything about whether or not bitcoin is "safe haven". if anything it proves that bitcoin price is like always volatile.