Willy Woo: Bitcoin's Trend Closer to Nasdaq, May Take Another Decade to Be Recognized as a Safe-Haven Asset

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On April 24, crypto analyst Willy Woo stated that most Bitcoin holders consider BTC a safe-haven asset, but the reality is more complex. Bitcoin does possess safe-haven attributes, such as the ability to transfer assets across borders and restart during wartime using mnemonic phrases, and theoretically should be independent of the traditional financial system, benefiting during systemic collapses. However, in practice, during periods of uncertainty and war, Bitcoin’s trading performance is more akin to that of a risk asset, being highly sensitive to market sentiment. This is because large funds have not yet fully recognized Bitcoin’s safe-haven properties, viewing it as still too new and lacking long-term validation, which is why its trend resembles that of Nasdaq. He believes that Bitcoin may need about another 10 years or even longer to be widely accepted by the market as a safe-haven asset. Once this is achieved, its market capitalization could compete with that of gold.

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