April has been a month of extreme volatility and tumultuous times for merchants.
From contradictory headlines on the rates of President Donald Trump against other nations to the total confusion about what assets seek refuge, it has been one for registration books.
In the midst of all confusion, when traditional “shelter assets” did not act as safe places to park money, a brilliant point arose that could have surprised some market participants: Bitcoin.
“Historically, the cash (the US dollar), the bonds (American treasures), the Swiss Franco and the gold have fulfilled that role [safe haven]With Bitcoin in some of that territory, “said Nydig Research in a note.
Nydig data showed that, although Gold and Swiss Francia had been consistent winners of Safe-Haven, since the ‘Day of Liberation’, when President Trump announced radical tariff increases on April 2, starting an extreme volatility in the market, Bitcoin has been added to the list.
“Bitcoin has acted less as an leveraged version of fluid of the American equity beta leverage and more like the non -sovereign value warehouse that is,” Nydig wrote.
When moving away, it seems that as the trade of “selling America” wins impulse, investors are taking Bitcoin’s note and the original promise of the largest cryptocurrency.
“Although the connection is still attempt, Bitcoin seems to be fulfilling its original promise as a non -sovereign value store, designed to prosper at times like these,” Nydig added.
Read more: The charm of safe gold refuge and bonds can be faded with the emergency of Bitcoins
