Bitcoin Is Not A Safe Haven
Is Bitcoin a safe haven?
This is something that some want to espouse. To me, this follows the medium of exchange mantra we heard for so long, which ultimatley was proven to not be really valid.
In this video I dive into how Bitcoin's volatility along with its tendency to have long cycles negates it being a safe haven. The usual suspects are pushing the narrative only to mislead people. Bitcoin is a risk on/risk off asset. This is why it is most akin to the NSADAQ than gold.
Here is the article mentioned in the video:
https://cryptonews.com/exclusives/is-bitcoin-still-a-safe-haven-not-really-according-to-data.htm
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I completely agree with you at this point. Bitcoin and Ethereum are just an income trade for me. It's what I focus on trading, but I don't hold any of it for long term. I am too busy at this point putting my earnings into my homestead farm and the things I need for here. Those are the only safe havens for me at the moment. Everyone is going to see things differently though, so it is what it is. As far as crypto, honestly the major stablecoins are the only real 'safe havens'.
Love that you're investing in the homestead. That's the future I think! Mixture of old school homestead with tech upgrades to live in the modern world as best we can.
Yep, big part of the homestead consists of 3D printers making hydroponic gear and really anything else I need that I can make. That and eventually start building up the solar array and building a Monero mining farm, you know, tech neck kind of stuff, lol.
But it has stood the test of time (15 years old now), with massive world-wide adoption including the big names of Finances so it is here to stay
Bitcoin may not be a "safe haven", whatever that is, but I look at it in this way: if gold was only 15 years old, and I have a chance to invest a couple of dollars in this immutably finite asset, should I? Gold has been an investment for about 6000 years of recorded history, with bitcoin we have a chance to get a few sats only 15 years in. At this early point, it might be considered irresponsible to NOT get "off zero", that is, to get a few sats.
Agree with you for sure on that one!
Just looking at the chart and volatility of BTC, I don't know why anyone would even consider it a safe haven. I think anyone who bought in 2021 and weathered the bear market will also tell others how it isn't a safe haven. I don't even know if there is even any safe haven in crypto with how volatile the whole market is.