Quote from: LUCKMCFLY on April 07, 2020, 03:02:00 AM

By tradition, Safe Haven has always been gold, despite the COVID-19 pandemic, the price has dropped a bit, but not as much as Bitcoin, because gold is mainly physical, it is difficult to move from one place to another, Bitcoin , like the stock markets, falls in the same way, what has been generated globally is panic, in countries with strong crises it does not matter that Bitcoin falls, since prices in local currency continue to rise, in the local economies of some countries if It can be considered as a safe haven, as is the case of Venezuela, that any currency is more valuable than the same local.

Gold has been trusted for a very long time as a safe-haven asset by people in the mainstream world. While it's not as portable as Bitcoin is, Gold has a well-established market that can stand the test of time. On the other hand, Bitcoin is relatively new to the world with only 11 years since inception. It might take quite a long time before people will be able to use Bitcoin as a safe-haven asset in times of turmoil. In some countries where their national currencies are hyperinflated, Bitcoin proves to be an ideal safe-haven asset just like Gold is today. The crypto/Blockchain space needs more time to mature as it's still in its infancy. There's a lot of work to be done both in terms of development and regulatory compliance. At least, many governments are recognizing Bitcoin as legal tender. It shouldn't be long enough before the market gets more liquidity for crypto assets to experience price stabilization.

Bitcoin's deflationary model tells us that it should become more valuable than what it is right now, sometime in the future. That's the way it should be if we base ourselves in the rules of supply and demand. But since there's no central authority determining its value, anything could happen. After all, people are the ones who determine how much a Bitcoin will be worth in terms of Fiat. The price is not important if you rely solely on Bitcoin as a unit of account. Wages can be paid using Bitcoin directly, items or services can be purchased with Bitcoin directly, and so on. Remember, 1 Bitcoin will always be equal to 1 Bitcoin no matter what. Determining its price in terms of Fiat, brings more speculation than anything else.

Nonetheless, Bitcoin's decentralized and censorship-resistant design allows anyone to use it as a "safe-haven" asset in times of turmoil. It cannot be shut down easily, operates 24/7, and it's independent from the likes of central banks and governments worldwide. And that's what really matters. Just my opinion