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RE: BTC - Bitcoin acting very much like a safe haven as stocks sell off

in #bitcoin5 years ago

"Bitcoin acting very much like a safe haven as stocks sell off"

Not really!

First of all, I would not call a mere 1.4% drop in stocks a "sell off". This is simply another market correction, the likes of which we have seen before, and will more than likely continue to see again.

Secondly, there is really no such thing as a sell-off, because in order to sell, there has to be buyers. Without buyers, there could be no sell-off. So if one sells, and another buys, why call it a sell-off, why not instead call it a "buy-on"?

Thirdly, I would never call Bitcoin a "safe haven, especially given it vast price swings. A safe haven must be safe (stable). Bitcoin is anything but stable. With perhaps the one exception recently in 2008, the stock market has never shown a percentage swing as great as we often see with Bitcoin.

If anything, I would consider stocks (at least some of them) to be a much safer haven than Bitcoin, or in fact, any cryptocurrency ever will be.

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