This reminds me of when I freshly joined the forum, I hinted at the classification of the asset where Bitcoin belongs, which is a risk-on asset. As usual, I was almost the only one with the view, others proved otherwise. I then told them that it was never a thing that could be hidden, the truth will continue to reveal itself...it happening.
Do you see how Bitcoin performed in reaction to the Trump-indicated trade war? That's another proof and it has not been cool. However, Gold which falls to another class of asset (risk-off) that they mistook Bitcoin for is now getting closer to its $3,000 very speedily.
Don't think Bitcoin is your asset during the time of Uncertainty, but it is the asset you can count on during risk appetite.
This could be true, or it could be wrong as well, but thankfully that answer doesn't matter. What matters is what people think. Because if they think the price of bitcoin will go up, then they will buy bitcoin before it goes up, which will result with it going up.
If they think it will go down, they will sell, which will make it go down. That is why human psychology is what matters in this market, and if they believe risk-on then they will believe that even if its not, or if it is risk-off then they will believe that, even if its not. What matters here is just what people believe and think, and as long as that stays true, what it really is, never really matters, not more than what people think it is.