Over the past few months, many economists and crypto experts have been claiming bitcoin as a safe haven during political turmoil all around the world. But price fluctuations of the cryptocurrency tells a different story. Bitcoin saw a surge in its price at the beginning of this month, but since then it has been struggling to keep up.
Travis Kling founder of Ikiagi a crypto asset management firm, tweeted earlier how bitcoin has not lived up to the claims of “safe haven.” He wrote that bitcoin might be strong enough to act as a safe haven for some stress but not all. In a series of tweets, he also added that bitcoin is attempting to shift from risk-on to the risk-off asset.
Travis Kling tweeted after the record-breaking 3% fall in Dow Jones. In the same time frame bitcoin also fell down by 9%. Kling mentioned that Bitcoin’s safe haven tag proved to be true against the China-US trade war but failed against a broader economic slowdown. On the other
