Bitcoin doubled in three months, and it’s time for safe-haven assets to show up? – Wall Street

As the global financial market is in a state of panic, the volatility of the renminbi has increased significantly, and market risk aversion has continued to rise. Different from the past, the recent market’s willingness to see gold is not strong. Even with many favorable support, gold prices are unlikely to soar in the short term.

At this time, the “central bank 屯 gold, rivers and lakes bitcoin” arguments go away, bitcoin beat gold to become the world’s strongest hedging tool – since February this year, bitcoin prices have doubled, surpassing gold and oil, Become the best performing asset in the world.

Prior to this, Bitcoin has been left out of the market for a long time. In the past year, Bitcoin has fallen into a bleak bear market, and in December 2018 it fell to $3,100. Affected by the news, on May 12, Bitcoin broke through 7,000 US dollars, and the 11 consecutive days of growth hit the longest consecutive period since 2017.

In recent years, the digital currency represented by Bitcoin has become a means of circulation in an extraordinary period because of better security and concealment, in order to counter the economic circulation or economy that has been cut. Hot money keeps pouring into Bitcoin. Compared to gold, is Bitcoin really taking on the “safe haven currency” function?

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