Isn't Bitcoin a safe-haven asset? Why does it fall as soon as negative news appears!
In fact, there is only one reason: Bitcoin is a way for rich people to use it as a safe-haven asset. Why is it safe-haven? Bitcoin cross-border transactions do not require you to pay taxes, so Bitcoin is just a means of tax evasion. In the end, it still has to be converted into real currency. Even if Bitcoin transactions are popularized all over the world and can be used in daily life, as an investment token, the price is not stable, and most people are still willing to pay with existing currency.
Therefore, every token you buy is just the price given by the current market, not the actual price. When no one in the market takes over, it is the end of the harvest of institutions.
