Report: Bitcoin is 'Not a Save Haven' or Substitute for Gold
As the US stock market crashed towards the end of 2018, the “perceived ability” of digital assets to serve as “a liquid, safe haven hedge” and a store-of-value (SoV) during times of political and economic uncertainty “did not hold”, the report stated. The Gold Council also wrote in its update that bitcoin, the flagship cryptocurrency, exhibited price movements that are similar to “technology stocks” as the BTC price dropped by 55% during Q4 2018.
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