Re: How safe is Bitcoin in the world's economic turmoil?
How safe is Bitcoin in the world's economic turmoil?
As far as I know Bitcoin is still considered as a high risk investment due to its volatility. However, it can be safer if you understand well how to manage your Bitcoin investment and you know the cycle (4 years cycle). So how safe it is, it will depend on your own way to manage it!When the current world economy is gradually surrounded by uncertainty, people have considered Bitcoin as a safe investment as a means of investing in their safe place.
IMO, there is no 100% safe investment, including Bitcoin. And there is no really safe place to put Bitcoin. Even if other people can't access it, you may lose it because you forget the key phrase or password of the wallet. You must also be aware that no one knows the future of Bitcoin. So, I always remind myself and everyone to set a realistic target.The price of Bitcoin fluctuates by 10 to 20% in a day, which is very risky or frustrating.
Only those day-traders who feel frustrated. The long term holders won't care with the price changes in a day. 