CNBC: "$BTC has begun to decouple from the NASDAQ index. The price of Bitcoin reflects people's trust in Bitcoin's role as a hedge against political instability, which is becoming increasingly evident each day.

In the short term, Bitcoin still trades like a risky asset. But in the medium and long term, it is gradually showing characteristics of a safe haven.

If you observe the recent outperformance of gold, you will see that it could be a leading indicator for the direction of Bitcoin when the market stabilizes again."

Many critics argue that Bitcoin has no intrinsic value because it does not generate income and is not backed by a third party. But this very fact also helps Bitcoin avoid the risks associated with corporate profits or instability in the monetary system.