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InvestAnswers Tackles Bitcoin’s Safe-Haven Status

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InvestAnswers Tackles Bitcoin’s Safe-Haven Status Blockchain PlatoBlockchain Data Intelligence | Vertical Search AI

Popular crypto analysis and market commentary show InvestAnswers is tackling whether Bitcoin still constitutes a safe-haven asset in comparison to gold. 

According to a recent YouTube update, the host of InvestAnswers is pushing back on the notion that Bitcoin has become a failed safe-haven asset in light of the current geopolitical backdrop of Russia invading Ukraine. 

The show’s host argued that Bitcoin has managed to outpace gold since the start of the Russia-Ukraine conflict. Gold rallied roughly 3%-4% in the 12 hours following the onset of the conflict. While Bitcoin initially fell during that same time, Between February 24 (the day of the invasion) and March 1, the Bitcoin price went up by over 28%.

Meanwhile, during the same period. the gold price went up by 2.1%. 

InvestAnswers went on to predict that Bitcoin’s current price volatility may be a bullish indicator for BTC investors. 

As reported by The Daily Hodl, the show’s host said, 

When you look at Bitcoin and gold prices and the divergence in 2022 amid the ongoing macro and geopolitical turmoil, it’s very interesting. While Bitcoin is generally regarded as a high-risk asset, the volatility may present a good buying opportunity. 

InvestAnswers showed that Bitcoin’s long-term trajectory against gold is poised to continue upward, giving more weight to its long-term outlook and status as a safe-haven asset. 

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Photo by user MichaelWuensch via Pixabay.com

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