There is a great misunderstanding that has been floating around in the news lately. Bitcoin and gold have been moving in opposite directions, and the global markets have been crashing as fear around the Coronavirus, Covid-19, is growing.
As we have seen in the last week, people have been quick to publicly cancelling bitcoin’s position as a safe haven. While the year started with clear negative correlation between global instability and bitcoin, bitcoin has been falling with the stock markets lately. Meanwhile, the gold price is pushing to the highest levels since the beginning of 2013. For many people, fulfilling its role as a safe asset; holding when stock markets are tumbling and global turmoil is present.