Post
Topic
Board Bitcoin Discussion
Re: If Bitcoin is safe-haven, why mirror the price movement of the U.S stocks?
by
cryptoboy007
on 09/07/2020, 21:47:57 UTC
Actually Bitcoin cannot be said of safe-haven, because investing in Bitcoin is very risky with its volatile prices. And since Bitcoin was not
created as an initial asset, Satoshi Nakamoto wanted Bitcoin to be payment as if it were fiat. In my opinion, the movement of Bitcoin is not
like US Stock, although it looks the same as just a coincidence and happens in the short term. Then for now Gold is more worthy of being
called a safe-haven.

Then it looks like analysts that are positioning Bitcoin as a safe haven asset are also getting it wrong. I don't understand why everyone is saying Bitcoin isn't correlated with the S&P 500. Take a look at this piece, Bitcoin’s Price Correlation With S&P 500 Hits Record Highs.