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

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by COINS NEWS 237 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
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