Willy Woo: Bitcoin's trend is more similar to the Nasdaq, or it still needs ten years to be recognized by the market as a safe-haven asset

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Golden Finance reports that on April 24, crypto analyst Willy Woo stated that most Bitcoin holders believe BTC is a safe-haven asset, but the actual situation is more complex. Bitcoin indeed has safe-haven properties, such as being able to transfer assets across borders via mnemonic phrases during wartime and restart, and theoretically should be independent of traditional financial systems, benefiting during system collapses.
But in reality, during periods of uncertainty and war, Bitcoin’s trading performance is more similar to risk assets, highly sensitive to market sentiment. The reason is that large-scale funds have not yet fully recognized Bitcoin’s safe-haven attributes, considering it still relatively new and lacking long-term validation, so its trend is more similar to Nasdaq. He believes that Bitcoin may still need about 10 years or even longer to be widely accepted by the market as a safe-haven asset. Once achieved, its market value could compete with gold.

BTC-1.26%
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