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22 October 2019

Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet

Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet


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Is Bitcoin a Safe Haven Like Gold?

The question is, can bitcoin become a safe haven.

In the CoinDesk Research white paper, “Is Bitcoin a Safe Haven?” we look at some of the theories around how bitcoin might perform during a macroeconomic crisis and present a few metrics that might be used to measure bitcoin’s response.

This may be a positive indicator for those who hope that a yuan currency crisis could ignite safe-haven demand for bitcoin.

Bitcoin is the only crypto asset about which rational people could even discuss a haven narrative.

If bitcoin is becoming a “risk-off” asset, bitcoin returns ought to start decoupling from other crypto assets.

None of this is to say that bitcoin doesn’t have a credible story as a safe haven asset.

It’s clear that it isn’t one today, but that doesn’t mean it might not become a risk-off asset during the next downturn, or the one after that.

The results are mostly similar to the 30-day returns we used in the white paper, “Is Bitcoin a Safe Haven?” They also match the results we obtained using weekly returns.

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Ether (ETH) Futures “Likely” in 2020, CFTC Chairman Says
published: 1 hour ago
Heath Tarbert, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC) on October 21, 2019, stated that the cryptocurrency industry could “likely” see ether (ETH) futures in 2020. Tarbert...

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