2022-02-25 11:17:11
GOLD AND BITCOIN DURING A WAR - Part 2
This is Bitcoin chart, from yesterday. After Putin announcement, Bitcoin price dumped - as well as most assets, markets, and crypto - except gold, gas, oil, and few other things.
You can see how this downtrend lasted for about 6 hours - moving back up quite quickly. Today Bitcoin is almost at the same price as two days ago.
Does this make Bitcoin a perceived store of value asset? Probably not yet.
What it probably means is that new crises are nothing like old ones. Most common people have learned to manage their fear. "Buy the dip" has become a systematic methodology - not just from Institutions and Hedge Funds. And this makes every trend and financial market - as well as the crypto one - more resilient to sudden moves.
On the other hand, an opposite argument: there's a lot of liquidity in every market - and this makes things go crazy very quickly. Be mindful and don't make stupid moves.
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