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Bitcoin as a safe haven? More a speculative bet, market players say

From reuters.com

Bitcoin’s recent gains as stocks plummeted on U.S.-China trade tensions reflect not so much its safe-haven credentials but its potential for quick gains, cryptocurrency and foreign exchange traders said on Tuesday. The biggest coin jumped over 7% on Monday as U.S. stocks slumped 3%. Safe haven assets from the Japanese yen to gold to government bonds - expected to hold or gain value amid turbulent markets - also rallied as investors fretted over the impact of the trade war on the world economy. Crypto enthusiasts said the moves heralded bitcoin’s achieving its potential as a haven. Bitcoin, their argument goes, is ... (full story)

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  • Category: Fundamental Analysis