Is Bitcoin a Safe Haven amid Global Shares Uncertainty
The start of 2016 has been far from tranquil for most equity and commodity investors. With the Chinese Shanghai Composite falling from over 3500 at the start of the month by over 16% to circa 2950 and with Oil tumbling to just over $30 a barrel, its’ lowest price in over a decade, people are desperately looking for a stable alternative to keep their money safe. Amid the heaps of Bitcoin news sites that have published articles around the future of the crypto-currency these past weeks, many have pointed out that Bitcoins are not just the most cost-effective way of transferring money across....
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There has been a lot of talk about investors looking to Bitcoin as a safe haven for their investment portfolio. Safe haven markets are very small and hard to get into. Bitcoin may not fit that bill as perfectly as some people think it does. Now that the Brexit doom scenario has happened, there is a lot of uncertainty across the markets. Gold is surging,....
Here's what impact the Brexit poll has had on the bitcoin price, and how we are going to respond to the vote from a trading perspective. So it looks as though the UK is set to leave the European Union, after its people voted in a slim, but important, majority on the side of the leave campaign. We have said a few times that bitcoin might play a part as a safe haven asset. On a few occasions over the past couple of years, this has proven accurate. Price has gained a global economic uncertainty pushes people to transfer value from one asset, a riskier one, to another, a safer one.....
Despite the increase in the price of bitcoin amid the UK’s recent EU referendum, a new research note from Needham & Company asserts it might be too early to call the digital currency a “safe haven” asset. Global bitcoin prices have risen nearly 6% over the day’s trading to reach a high of $680, a figure up more than $100 from a low of $561.46 on 23rd June. Market observers were quick to assert the increase, which occurred as sentiment in the 'Brexit' vote shifted, was a sign this uncertainty had encouraged new investment in the digital currency markets. However, Needham said its....
As many economists predicted, the Italian constitutional referendum of 2016 shook the country’s banking system to the core. Italian bank stocks have plummeted drastically since the referendum and it comes at a time where the digital asset bitcoin is seen by investors as a safe haven. Furthermore, Chinese bitcoin interest has grown exponentially as the....
Bitcoin’s growing correlations with gold, S&P 500 and Nasdaq 100 indicate that investors see BTC as a “relative safe haven,” BofA strategists wrote. Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests.The rise in correlation between Bitcoin and gold (XAU) is one of major indicators demonstrating investors’ confidence in BTC amid the ongoing economic downturn, according to digital strategists at the Bank of America.Bitcoin’s correlation with gold — which is commonly viewed as an inflation hedge — has....