CRYPTOCURRENCIES


Is Bitcoin becoming a new Safe Haven asset?


TRADING SYSTEMS


FX


In times of uncertainty, traders and investors have traditionally flocked to ‘safe haven’ assets that act as an anchor against stormy markets.


These


tend to be traditional conservative choices— gold, land, corn, etc—that are insulated from wider market turmoil. The latest incident to demonstrate this is ‘Italexit’—the possibility of


Italy leaving the Euro,


which as would be expected has created uncertainty in global markets, sending global stocks and the Euro tumbling.


Less expected perhaps, was Fig.1 FX TRADER MAGAZINE July - September 2018 47


the simultaneous rise in the price of Bitcoin, which according to some analysis behaved like a traditional safe haven asset in response to crisis—jumping almost


4% with a $200 gain in less than an hour.


Famous figures like Binance CEO Changpeng “ CZ” Zhao also commented on


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