Bitcoin is supposed to be a Store of Value. Crypto sphere has pitched it as an uncorrelated asset, a safe haven, a hedge, an insurance against a global economic crisis. False! The opposite has happened
I've seen this argument all over the place in the last few weeks, and it's just wrong. I've responded in a few different threads, and I will again (very briefly) here.
Bitcoin is not a safe haven asset
yet. It has the
potential to be the absolute best safe haven asset, as we all know and have discussed many times before... but for the moment the crypto markets are relatively young, volumes are low compared with traditional markets, which leads to volatility, which is self-perpetuating. Bitcoin
at the moment is a high-risk high-reward gamble. But that will change as crypto matures and intersects with the mainstream, and as volumes increase. This is
not the end state, we are likely years away from that. Don't confuse what bitcoin is now with what it will become.
I agree that it would come for bitcoin to be a safe haven but I doubt your term using
as safe haven. If we are going to argue which safe haven could be the absolute safe haven then it would be gold, no statement needed further. Crypto is volatile yet it has the potential to be a safe haven, in what heaven reason? because of the price resistance but this resistance is still uncertain which is coming from unknown people in decentralized network.