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Isn't Bitcoin considered the "elixir" in a crisis?

The corona virus pandemic is testing one of Bitcoin's most popular stories: that in a global crisis, people who are not surrounded by their worthless dollars will have to grop in front of the elite. electronic money.

Bitcoin was created from a financial crisis, the first time it was announced in early 2009 with a block of data referencing a bank bailout. A common story surrounding this technology is that it is a barrier against the rest of the world, when the Black Swan (Black Swan) takes place far away.

Anyway, nothing bad has happened in the first practical test, the global test of this theory: the corona virus pandemic is happening.

When the US stock market witnessed the worst collapse since 1987, Bitcoin prices have actually plummeted and are currently trading at around $ 5,300, down from $ 9,000 a week ago. Anyone who is hoping to sell any recently purchased bitcoins to make a profit in the short term is probably very worried right now, and people should pray for those who have dropped the knife and believe it. think to their genius brains that it definitely hits the bottom.

Wait, was Bitcoin considered good in a crisis?

I think 6k is a good time to buy. 😀

So, what's really going on here? Perhaps Bitcoin is not a “safe haven” asset (like gold) that some people think. This has led to a lot of criticism from critics, but many Bitcoin players are thought-minded and devoted to the project, which may eventually be its offset factor for the time being. .

On Twitter, Bitcoiner Pierre Rochard stated that Bitcoin has proved to be “the ultimate safe haven asset” because “the network is still running, trading 24/7 and the market has found a good, high price. than the lowest level in 2015 ". Meanwhile, well, we might consider it an overstatement, to say that Bitcoin is the “ultimate” safe-haven asset while it is collapsing proactively, Rochard points out the bottom line: Bitcoin is not so bad, at least until now. It may not be a safe haven amid global chaos, but it has shown to be worse.

From the end of 2017 to 2018, Bitcoin collapsed from nearly $ 20,000 to below $ 4,000 after a wild speculative bubble appeared, and it's still here. Maybe external factors like the corona virus will eventually cause more damage than the hype itself, its debts have been paid in dollars, but after all, Bitcoin still proves that we should not underestimate the willingness of wealthy professionals with apocalyptic devotion to pour money into this for a long time.

Jill Carlson, the director of Slow Ventures, put another great focus: Awareness is everything, and if the majority of Bitcoin is not considered a safe haven, it won't be. However, she thinks this perception is wrong and that Bitcoin is in many ways an ideal safe haven.

In fact, there are people who still want to buy more Bitcoin and perhaps they are looking forward to the next major technical event about Bitcoin, the “halving” event in May.

Mr. Teacher

According to Vice

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