Bitcoin’s Recent Fall Could Reportedly Mean That The Coin Is A Safe Haven
You already know that the crypto market has been extremely volatile these days.
On the other hand, Bitcoin’s price is definitely less volatile compared to how it was a couple of months ago.
Smaretreum raises a question and asks its readers whether this is enough to encourage investors to run the crypto in such times of strong economic uncertainty.
The online magazine analyzed a few days ago the impact of the current and the impending economic woes on the attitude towards BTC and digital assets in general.
BTC, a safe haven for investors?
Their question is whether BTC has the ability to become a safe haven for investors?
The online publication mentions the BTC maximalists who have often advocated for an era when crypto is able to dethrone the current financial system that’s run by the government and central banks.
In order for this to become a reality, there would have to be a sort of an economic collapse.
Smartereum writes, “if investors were to seek solace outside the financial markets, can bitcoin attract them? We’ve seen gold prices go up as investors look to store their value in gold during economic uncertainties.”
They continue and say: “Needless to say, the impact of such an influx of investors to the bitcoin market will be massive. But for bitcoin to attract such involvement, it has to prove to be a reliable store of value, something it is not necessarily known for.”
Lower volatility index
They continue to address the volatility of BTC. They also note that the BTC market seems to be maturing this year, and in the end, the volatility index is lower compared to last year.
You should head over to Smartereum’s original article and check out more data on the issue.
Regarding BTC’s price, the coin is trading in the green at the moment, and BTC is priced at $9,626.30.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.