Bitcoin's Safe Haven Narrative Comes Under Pressure Amid Iran-Israel War Fears, Investors Prefer Gold During Crisis
Portfolio Pulse from Aniket Verma
Bitcoin's reputation as a safe haven asset is challenged as it drops 3.52% amid Iran-Israel war fears, while gold rises. This highlights Bitcoin's volatility during geopolitical crises, contrasting with gold's stability.
October 02, 2024 | 7:52 am
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Bitcoin's status as a safe haven asset is under scrutiny as it fell 3.52% amid geopolitical tensions between Iran and Israel. This decline questions its reliability compared to gold, which rose during the same period.
Bitcoin's decline during geopolitical tensions suggests it behaves more like a risk asset than a safe haven. This challenges its 'store of value' narrative, especially as gold, a traditional safe haven, rose in the same period.
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