Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.
Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.
As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.
There is nothing like safe heaven asset cause all investment on Bitcoin or other cypto are very risky and needed to be previewed with geeat understanding before venturing into it as an asset. Many ignorant and desperate persons had made the mistake of limiting the risks that is involved in Bitcoin and the entire interface. Caution need to be taken to prevent further loses if one had made such mistake in the past.
Bitcoin can be a safe heaven for those who understand the level of risks involved in it and good comprehension of the entire buying and selling pool works. The first time I invested in Bitcoin, I lost all my money maybe I was not equipped with the right information to trade the market. This really made to it tight and start all over again with strict measures to avoid past mistakes.