Bitcoin Not A Safe Haven

[hmind 0]

Quote

"From the point of view of cryptocurrencies as assets, very basic data analysis suggests that optically bitcoin has a low correlation with safe havens like gold. This does not mean that bitcoin is a good diversifier or a safe haven. It has been highly volatile over the past two years and is subject to trading and liquidity risks not normally associated with safe havens."

source: https://www.forbes.com/sites/mikeosullivan/2019/11/23/from-bitcoin-to-no-coin-crypto-world-under-pressure-as-governments-react/#20e4ada2d6e1

What do you think about Mike O'Sullivan's view of the Bitcoin problem. Is there a difference of opinion with him, or do you agree with what he says?

[pkrs 603]

Yes  i agree with you bitcoin is highly volatile market compared to gold investments. But the Roi is very high in Bitcoin compared to other investments. It is a lucrative market with high risks involved and not a safe haven.

[Jeet Narayan 1940]

In some cases Bitcoin is not good but in some cases Bitcoin is good, actually every thing have good and bad side of it. Bitcoin help me a lot so I like Bitcoin and also Bitcoin future is bright.

[Sid 589]

I agree that bitcoin is not safe haven, because the price is unstable and very risky compared to gold. The possibility of us losing all of our money in a short amount of time is high 😅

[Afrizal rahman 2636]

2 hours ago, Amit01229 said:

Crypto give us freedom if yon store your money in centralize based then your money will be lost also don't invest  for high return and always use Hardware wallet for safety and i think Crypto best for self funds control.

Yes, I agree, that we can set Crypto ourselves without having to have a third person to interfere in it. Yes I follow your opinion right now, sorry if wrong.

[gigabyteRTX 1583]

Well, I slightly agree and not, yes it is not avoidable because in every aspect of things there are risks, so it is said to be not safe but of course, if the holder or the user keeps its coins properly and with a high level of cautiousness and alertness, then it will be sure to be safe. And the proof is my 4-year experience from those years I still didn't experience to lose coins or being hacked it become my means of getting income while studying.

[Satishmolankar 1703]

See rick is an every field of works show me where is no risk but if we always think about risk then we can't do anything in your life and those who take risk they will achieve what they want in their life

[ETheHedgehog 3104]

Even if governments try to ban bitcoin, black markets will exist and circulation of bitcoin will not stop

[nicolas1234789 2566]

I agree with him, bitcoin is not gold in every aspect and perspective. Bitcoin still don't have regulation and protection and that make bitcoin so hard to get place in financial economic world. As value and volume bitcoin has bigger volatility than gold. If bitcoin already have regulation I believe the story will never like this.

[Brushless4500KV 4214]

Quote

"From the point of view of cryptocurrencies as assets, very basic data analysis suggests that optically bitcoin has a low correlation with safe havens like gold. This does not mean that bitcoin is a good diversifier or a safe haven. It has been highly volatile over the past two years and is subject to trading and liquidity risks not normally associated with safe havens."

This news dates back to November 2019 and refers to the time when bitcoin price was falling and some people were worried. Anytime cryptocurrency price falls, many articles like this one will be published on the internet and tries to convince people that crypto is coming to an end but the writers of such articles are wasting their times because we all saw that how bitcoin recovered again after Christmas and market sentiment woke up once more.

[Adiegumabao 1223]

6 hours ago, hmind said:

What do you think about Mike O'Sullivan's view of the Bitcoin problem. Is there a difference of opinion with him, or do you agree with what he says?

Bitcoins has always been volatile and will always be and that's the wonder about it. If it is not volatile then trading wouldn't be possible. Hodling to would not be possible if crypto currencies are stable.

[Honny143 13612]

Every good thing behind a bad thing also bitcoin haven are not iam saying bitcoin a trend setter coin in crypto currency  when bitcoin gives profit  its good and gives loss then bad when bitcoin gives loss some inexperienced people buys bitcoin when bitcoin in peak stage and same days later bitcoin down then they think bitcoin gives loss but they never says their fault don't blame bitcoin it happens only our inexperienced and not well knowledge about crypto currency

[doriahailee 643]

Logically the statement is true because it is different from gold backed up by phyiscal fundamentals and has been tested for hundreds of years compared to bitcoin which only relies on the technology behind the blockchain in my opinion makes sense, It is not a good choice for storing assets and hopes to be stable in bitcoin because volatile nature.

[Yanadia 1517]

I agree with him because if he compares Bitcoin with gold, of course it cannot be denied if what he says is not scientific fact but the reality of Bitcoin Not A Safe Haven there will come a time in humans, at that time there is nothing useful except gold coins and silver coins

Edited January 18, 2020 by Yanadia
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[fuer44 1083]

he is right, because basically bitcoin is decentralized and prices will affect trading risk and coin liquidity and all of that causes the price of bitcoin to be very volatile. but in my opinion this would be a new thing in investment, where investors, traders and users have unlimited freedom of the value of these investments even though the risk is very high.

[Sourav43 106]

There is a good and bad side to all things. If you can work on the good side by keeping the bad side of it, then that will be good for you. It's not okay to be overly addicted to something. Likewise, if you get addicted to bitcoin then this is good for you.

[Beeba 240]

Every crypto trader knows that the quantity of Bitcoin is fixed and demad of these mining coins is hundred percent more its supply it reach at high prices and only richest person used this. In this way people considered the same.

[MuhammadSh 3067]

i really agree with you!! i believe in the future of digital coins but i am not sure about bitcoin! i think that there is no truly expects in these things..

[Ahmedabdallah12 169]

That's right but Bitcoin has alot of advantages as it can't be controlled by anyone not like the gold 

[Casinoval 330]

Bitcoin is a safe heaven, people who have kept the funds in Bitcoin over the years, have gotten more return on investment than people that had it invest in gold.

[Great Commander 659]

It is obviously true and we can't deny it. Its volatility is the main enemy of the game and chances of it to change anytime is extremely high. 

[kamalnewaz 150]

Many people think in many ways.Bitcoin is a safe haven said by some people , another said its not safe, i think its your thinking what you think regarding that.      

[el-Muhammady 718]

Bitcoin has been going well and i believe everything has a regulate and tail, that is equally competent and bad. Bitcoin is nice as it aid in earning lid profit and is rude as it at times be in front to losses, I contemplate all has their own preferences over Bitcoin. I myself feel, The advantages of Bitcoin outdo its disadvantages.

[sdsonjoy50 886]

 

I couldn't clear your information about why Bitcoin is not safe, Bitcoin is 100% safe, if you can protect your wallets, now there is a lot of killer hack to hack cryptocurrency. Keep your capital safe.

[Rahul21 626]

I can agree with you on one issue that in fact, there is a good and bad side to everything.  But I can say towards Bitcoin that Bitcoin is always going in a good way for us, with light prices going up and everyone improving.  I know that bitcoin has never had a bad side.