InvestAnswers, prominent crypto research and market commentary website, is debating whether Bitcoin is still a safe-haven asset when compared to gold.
As shown in a recent YouTube update, the presenter of InvestAnswers is disputing the assumption that Bitcoin has become a failed safe-haven asset in light of Russia’s invasion of Ukraine.
Bitcoin’s Safe Haven Status With InvestAnswers Session
According to the show’s host, Bitcoin has managed to outperform gold since the start of the Russia-Ukraine crisis. Gold rose around 3% to 4% in the 12 hours following the outbreak of the violence. While Bitcoin originally decreased over the same period, the price of Bitcoin increased by more than 28 percent from February 24 (the day of the invasion) and March 1.
Over that same time period, the gold price increased by 2.1 percent. According to InvestAnswers, Bitcoin’s present price volatility may be a positive indication for BTC investors.
According to The Daily Hodl, the show’s presenter stated:
It’s really intriguing to look at Bitcoin and gold prices and the divergence in 2022 with the continuous macro and geopolitical instability. While Bitcoin is often considered a high-risk asset, the volatility may give an excellent purchasing opportunity.
According to InvestAnswers, Bitcoin’s long-term trajectory versus gold is projected to continue rising, lending greater weight to its long-term outlook and standing as a safe-haven asset.
The author’s or anybody else’s thoughts or opinions represented in this post are for informative purposes only and do not constitute financial, investment, or other advice. Investing in or dealing in crypto assets carries financial risk.