Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet

As CoinDesk reported, “Investors are beginning to have a clear sense why bitcoin exists: it’s digital gold, a narrative that has emerged clearly as other assets flounder, gasping for air in the muddy water of shallow memes.

“Ethereum has hopped from story to disjointed story; now it’s ‘money’ (OK). Nobody knows what Ripple, er, XRP is.

“If bitcoin is digital gold, then it must be a haven in times of crisis – a ‘risk-off’ asset. Any thoughts of bitcoin being a safe haven have been put to bed in the past 10 days and can be found there thrashing in their own clammy sweat, racked by fever-nightmares of 2018.

“The question is, can bitcoin become a safe haven? We may be about to find out. Born during the last global financial crisis, bitcoin has yet to see one. In the CoinDesk Research white paper, ‘Is Bitcoin a Safe Haven?‘ we look at some of the theories around how bitcoin might perform during a macroeconomic crisis and present a few metrics that might be used to measure bitcoin’s response. You can download the paper here. This article will present an up-to-date look at a few of those metrics…”

Continue to read the full article at CoinDesk.

Track the current price of Bitcoin, Ethereum, Ripple and altcoins here.