Earlier this week we reported that a bitcoin is, in a time of crisis, it can serve as a “safe haven”. In a time of crisis, bitcoin is a protection. The price of bitcoin since they do not lead by politics. Bitcoin is a global and independent.
Last week, it was clear that the situation between the u.s. and Iran deteriorated further and the rate has increased. However, there is still a direct connection? We have compared the bitcoin exchange rate with gold. For most investors, gold is still the safe haven of choice.
This is the second part of a two-koersanalyses. Part 1 can be found here.
Bitcoin and gold are next to each other
Below is a chart of bitcoin (in red) is compared to that of gold (in the gold). We will leave the price out of consideration, as it relates to the movement of the exchange rate. There are three key moments that have had an impact on both races.
These are the moments that we have with the figures in the graph below:
On the 3rd of January, it was announced that an Iranian general Soleimani has been killed by a Us air strike in Iraq. The uncertainty is increased as well, on Twitter, talked to the people from a Third world War. This uncertainty meant that both gold and bitcoin value has increased.
On the 8th of January, launched by Iran’s missiles, on two U.s. air bases in Iraq. As the unrest grew, the gold and the bitcoin is rising even further.
Later in the day, announced that He has no further action to be undertaken, allowing for the voltage to drop off. You will see an immediate reaction in the bitcoin and gold, and the price drops again.
Is bitcoin a safe haven, or do we want to see it that way?
This week, you’ll read all sorts of articles about bitcoin (and gold) as a safe haven. Peter Schiff is a staunch supporter of the gold.He points out that investors are this week only, bitcoin buy, in order to speculate as to which other investors in bitcoin, buy it as a safe haven. However, it is not just that gold is going on?
Heightened geopolitical risk has resulted in both gold and Bitcoin moving higher, but for different reasons. #Gold is being bought by investors as a safe haven. #Bitcoin is being bought by speculators betting that investors will buy it as a safe haven.
— Peter Schiff (@PeterSchiff) January 3, 2020