Will Bitcoin become a safe-haven asset?

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Photo - Will Bitcoin become a safe-haven asset?
The concept of a “safe haven” - a statistically more stable asset into which you can shift your capital for a period of “turbulence” so that its overall value does not suffer, has always existed for investors.
When people are not sure about the future, they stop thinking about profit and think more about protection. That’s normal. However, the “hot war” and the regime of large-scale economic sanctions revealed another problem of investment protective tools. These are mobility and logistics: just yesterday people were confidently buying up profitable real estate or gold bars, and today they are already leaving their city, having lost everything that they have collected over the years. In this light, the potential of cryptocurrencies can be revealed in a new way. The story of a refugee girl from Mariupol who crossed the border between Ukraine and Poland with only a handbag and a flash drive with 20 BTC tokens (the equivalent of $1 million) is quite illustrative, even if this story suddenly turns out to be fictional. In this particular case, it does not matter how much was invested in these bitcoins. The only important thing is that the owner of these coins was able to have access to capital without any effort and risk. Cryptocurrencies are compact, weightless, secure enough and really convenient. The level of acceptance of cryptocurrencies in the world is constantly growing, as is the volume of educational programs around them. But don’t hurry to put on rose-coloured glasses. There are questions about bitcoin and cryptocurrencies. The main one is whether the “crypto” is really capable of safely storing the value locked in it (namely, this is the main role of the safe-haven currency)? So far, the assessment of the correlation of bitcoin with the stock market, unfortunately, is the maximum. The crypto market so far completely repeats the price movements of the largest public companies that make up the S&P500 or DAX100 indices. And in percentage terms, the Bitcoin correction is not at all in its favor:

The cryptocurrency market is, above all, a “market”. Human psychology, greed, avarice, FOMO (fear of missing out on an attractive financial opportunity) dominate here just like in any other financial markets. Therefore, the question of whether bitcoin will hold its value during a serious financial crisis, when all industrial and technological giants fall, remains on the agenda. However, BTC is apparently moving out of the underground, becoming a “third force” and mainstream. And it has already successfully passed its exam during the war.