MultiversX Tracker is Live!

Crypto failed to actually be a hedge asset during a major worldwide crisis today. Gold didn't.

All Cryptocurrencies

by COINS NEWS 254 Views

Crypto failed to actually be a hedge asset during a major worldwide crisis today. Gold didn't.

Look at this graph. While stock market and crypto crashed this morning, gold became more valuable. Crypto was supposed to be the safe haven during a time of crises.

https://preview.redd.it/21m3bmz31uj81.jpg?736&format=pjpg&auto=webp&s=872d806b02f8e4dd6575699961877e3ef41509cb

It's official, Bitcoin is not a good hedge asset. Even when the pandemic first started in March 2020, crypto crashed, exactly like the stock market. If you set aside your bias towards crypto and be smart, you'd buy some PAXG right now.

But the problem is, when did Bitcoin become so coupled with the market?

submitted by /u/jonbristow
[link] [comments]

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments