Top Analysts of the Market Revealed: Bitcoin Failed When Considering the Last Period! - Koin Bulletin

Bitcoin's goal of being a safe haven asset has failed in light of recent fluctuations and investor preferences

Paybis Revenue Director Uldis Teraudklans stated that Bitcoin has never been a real safe haven asset. Teraudklans emphasized that Bitcoin cannot achieve this status unless its market value falls below. Teraudklans pointed out that in every new cycle, Bitcoin is criticized for not being a safe haven, but fundamentally remains a risky asset.

Bitcoin is losing against gold

Bitwise Europe Research Director André Dragosch stated that Bitcoin is extremely sensitive to global economic growth expectations. As the possibility of a recession increases in the US, investors are turning to gold as a safe haven instead of Bitcoin, he expressed. In a survey conducted with Bank of America's fund managers, participants only see 3% of Bitcoin as a safe haven while 58% prefer gold.

The increase in customs duties on products imported from China and Europe by US President Donald Trump has created significant uncertainty in the markets. Pete Walden, Managing Director of BullionByPost, stated that this development has increased interest in gold and investors have turned to buying gold. During the same period, Bitcoin experienced sharp declines as it could not withstand global market pressures.

Bitcoin's volatility hit the markets

Bitcoin's failure became even more pronounced with the increasing volatility in the market. WeFi Growth Director Agne Linge said that total liquidations in the overall cryptocurrency market exceeded 1.04 billion dollars and especially altcoins experienced double-digit losses. Bitcoin experienced one of the largest monthly declines in the last 10 years, losing 17.39% in February.