Travis Kling says BTC is not a safe haven for all type of stress

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.

Lots of talk about BTC as a safe haven lately. Hasnt acted like that last few days. Why?

Could be crypto specific mkt structure issues. We see those right now

Could also be BTC is strong enough to act as a safe haven to an extent and for certain types of stress, but not all.
— Travis Kling (@Travis_Kling) August 14, 2019

It’s like maybe BTC is strong enough to swim in the pool right now but not in the ocean.

Maybe BTC can act as a safe haven when the VIX goes from 12-17 but acts risk on above 17.

Maybe BTC can rally with gold when its about tariffs but not when its about global growth slowdown.
— Travis Kling (@Travis_Kling) August 14, 2019

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