April was a month of extreme volatility and tumultuous time for merchants.
Contradictory titles on President Donald Trump’s prices against other nations to total confusion on assets to seek shelter, this was one for records.
In the midst of all the confusion, when the traditional “Haven active” did not act as safe places to park money, a positive point emerged that could have surprised certain market players: Bitcoin.
“Historically, Cash (the US dollar), the obligations (American treasury), the Swiss franc and the gold fulfilled this role [safe haven]With Bitcoin, going on a part of this territory, “said Nydig Research in a note.
Nydig data has shown that although Gold and Swiss Franc had been coherent security winners since the “Liberation Day” – when President Trump announced swap pricing on April 2, launching extreme volatility on the market – Bitcoin was added to the list.
“Bitcoin has acted less as a liquid lever version of US Equity Beta Levered and more as the non -sovereign value store,” wrote Nydig.
In a zoom out, it seems that when the “Sell America” trade grows, investors take note of Bitcoin and the original promise of the greatest cryptocurrency.
“Although the connection is always temporary, Bitcoin seems to make its original promise as a non-sovereign value store, designed to prosper in times like these,” added Nydig.
Read more: The look of gold refuge and bonds can pass out with the emergence of bitcoin
