{"id":19311,"date":"2023-03-30T19:38:03","date_gmt":"2023-03-30T19:38:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/is-bitcoin-regaining-its-status-as-a-safe-haven-asset\/"},"modified":"2023-03-30T19:38:03","modified_gmt":"2023-03-30T19:38:03","slug":"is-bitcoin-regaining-its-status-as-a-safe-haven-asset","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/is-bitcoin-regaining-its-status-as-a-safe-haven-asset\/","title":{"rendered":"Is Bitcoin regaining its status as a safe-haven asset?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/167507262_m_normal_none1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/167507262_m_normal_none1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/167507262_m_normal_none1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/167507262_m_normal_none1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<p>Bitcoin is on track for its third consecutive month of positive gains as investors continue to see it as a hedge against the <a href=\"https:\/\/edition.cnn.com\/2023\/03\/28\/investing\/senate-banking-hearing-svb\/index.html\" target=\"_blank\" rel=\"noopener\">recent bank failures<\/a>.<\/p>\n<h2>Bitcoin has been breaking up with equities<\/h2>\n<p>What\u2019s more interesting is that it\u2019s no longer trading in lockstep with the S&amp;P 500. In fact, data from Coin Metrics suggests the correlation between Bitcoin and equities is now the weakest since September 2021.<\/p>\n<p>That makes sense, of course, considering its valuation is not coupled with earnings growth as in the case of equities. According to Alex Thorn of Galaxy Digital:<\/p>\n<blockquote>\n<p>The correlation data shows that, at least recently, Bitcoin has indeed performed more like a safe-haven asset than a risk asset.<\/p>\n<\/blockquote>\n<p>Bitcoin is currently up about 70% for the year.<\/p>\n<h2>Bitcoin is making a bond again with gold<\/h2>\n<p>On the flip side, the banking crisis has helped Bitcoin reestablished the correlation it once shared with gold. That also signals its now regaining the status as a \u201c<a href=\"https:\/\/www.goldpriceforecast.com\/explanations\/gold-as-a-safe-haven\/\" target=\"_blank\" rel=\"noopener\">risk-off<\/a>\u201d asset. Thorn added:<\/p>\n<blockquote>\n<p>Given the nature of current crisis \u2013 in which fractional reserve banking system\u2019s core limitations are tested \u2013 Bitcoin\u2019s fundamental characteristics genuinely distinguish and offer a safe port in a storm.<\/p>\n<\/blockquote>\n<p>Remember that the world\u2019s largest cryptocurrency had a difficult 2022 partly because of the aggressive rate hikes. Now that we\u2019re near the end of that cycle, though, it\u2019s likely that Bitcoin will have a clearer path ahead for upside.<\/p>\n<p>Last week, Fed Chair Powell <a href=\"https:\/\/www.investors.com\/news\/economy\/federal-reserve-hikes-key-rate-signals-one-more-to-come-sp-500-rises\/\" target=\"_blank\" rel=\"noopener\">signalled<\/a> only one more rate hikes this year.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-regaining-safe-haven-asset\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin is on track for its third consecutive month of positive gains as investors continue to see it as a hedge against the recent bank failures. Bitcoin has been breaking up with equities What\u2019s more interesting is that it\u2019s no longer trading in [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":19312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19311"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19311"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19312"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}