Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin a Safe Haven Asset?
by
Spaffin
on 10/05/2020, 10:00:27 UTC
Bitcoin is one of the top investment no doubt, but I don't think it's a safe haven type investment. After investing, you can't sleep by ignoring the market, you have to look at the price so you can sell at high and earn profits! But most of the time bitcoin price remains low. If you did buy at 3800$, then Bitcoin is a safe haven already, but if you go for invest now, then you are taking a little bit risk!
I believe that it is China in the near future that will revolutionize Bitcoin as a safe haven.  until recently, the Chinese government was bad at cryptocurrencies and banned Bitcoin mining in the country.  but there is an opinion that in the near future the Chinese government will be able to change the status of Bitcoin, since economic problems in the country, as well as around the world, are forcing the Chinese government to seek safe refuge, because there is a real fear of a global recession.  Today, many Chinese investors are already investing in bitcoins, because there are big concerns that the yuan will lose value due to the aftermath of the trade war.  Thus, one of the strongest countries can actually use Bitcoin to save its economy.