OPINION: Bitcoin is not currently a safe haven when the stock market is falling, and medium-term performance may be in line with overall stock market trends
Ruslan Lienkha, Director of Markets at YouHodler, says he claims the market is undergoing a correction that could evolve into a medium-term bearish trend.Lienkha : ‘Uncertainty is reaching localised peaks, prompting traders to temporarily close their positions. Typically, the bond market, especially U.S. Treasuries, is a safe haven for investors during periods of heightened recessionary expectations.’ When asked about the viability of Bitcoin as a safe haven in the current market environment, Lienkha was sceptical. He said, ‘At the moment, Bitcoin is definitely not a safe haven when the stock market is down. Instead, it is behaving more like a high-risk tech stock with higher volatility and wider price swings, and while the high volatility may lead to a short-lived divergence, Bitcoin's medium-term performance is likely to be in line with overall stock market trends.’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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