Topic: [2019-08-05] Bitcoin Morphs Into Unlikely Sanctuary As Market Turmoil Rises - page 2. (Read 292 times)

Trust me once the general public goes into the crypto market we would also be affected. Can you imagine the massive fomo it will produce when all kinds of investors in different markets starts buying cryptocurrencies? It would be a lot and I don't think that the market would be prepared for that kind of audience. Ones the prices starts to rise up and the market confidence grows weaker then we can see that it would quickly go downs when all the traders starts to cashing out their gains, all who will be left are the ones who aren't prepared for the massive sell out that will happen.

Everyone in Hong Kong should be buying some too given the troubles with China there too.  It is nice to see people appreciating the benefits bitcoin provides.

Why would they say "unlikely" though? That makes little sense.

Investors the world over are finding an unusual place to hide as the trade war between the U.S. and China roils global markets: Bitcoin. Investors piled into safer securities such as sovereign bonds on Monday after China struck back in its trade dispute with the U.S. and let its currency weaken through a milestone level. Major cryptocurrencies, increasingly seen as a refuge during distressed times, also rose, with Bitcoin gaining more than 14% and smaller peers including XRP and Litecoin each rising more than 5%.

“It definitely appears to be acting somewhat like a safe haven,” said Brad Bechtel, head of foreign exchange at Jefferies LLC. “When markets are calm and rallying, then Bitcoin sort of falls by the wayside,” he wrote by email. “But every time we see turbulence in the market and it starts to sell off, you see Bitcoin” and other safe-haven assets rally.

Risk assets across the world slumped after President Donald Trump threatened to impose a 10% tariff on Chinese imports that weren’t yet subject to levies. China responded on Monday, letting the yuan tumble to its weakest in more than a decade and asking state-owned firms to stop importing U.S. agricultural products.

Source is here.


As the global economy is now poised for big problems and challenges brought on by many factors foremost of which is the trade war between USA and China, Bitcoin is taking its right place as the most important safe haven as the digital gold, together with its real counterpart. And investors are loving it here with Bitcoin because of its tremendous potential for return-on-investment.

Will it mean that Bitcoin is now ready for the next big bull run?