Safe-haven assets like gold appreciate in response to global conflicts and tensions, but Bitcoin was not seriously considered such an asset until the latest US-Iran tensions highlighted an interesting price trend.

On January 3, 2020, when a US drone strike killed a top Iranian general, it was feared that the incident would spark a major conflict, possibly resulting in another war. Gold appreciated from $1,525/oz and Bitcoin followed the same trend.

bitcoin-safe-haven2

Gold chart (USD/oz)

bitcoin-safe-haven3

BTC chart (USD/BTC)

While the rise in gold prices was decent, taking it as high as $1,600/oz, a price not seen since early 2013, Bitcoin appreciated over 23%, going from around $6,850 on January 3, to $8,450 by January 8, 2020.

Now, with the latest developments hinting towards de-escalation between the US and Iran, prices of both, gold and Bitcoin, have started retreating.

Given how Bitcoin had long been called digital gold, and a store of value, this latest price action is very interesting and indicates growing confidence in the digital currency, which ended 2019 as the best investment of the decade.

With Bitcoin’s growing relevance in the global economy, we reiterate our long-term bullish stance on the digital currency, which continues to prove why many forward-looking investors are gaining exposure to digital assets.

Disclosure:

As of the publication date of this report, BitBull Capital Management LLC and its affiliates (collectively “BitBull”), others that contributed research to this report and others that we have shared our research with (collectively, the “Investors”) may have long or short positions in and may own options on the token of the project covered herein and stand to realize gains in the event that the price of the token increases or decreases. Following publication of the report, the Investors may transact in the tokens of the project covered herein. All content in this report represent the opinions of BitBull. BitBull has obtained all information herein from sources they believe to be accurate and reliable. However, such information is presented “as is,” without warranty of any kind – whether express or implied.

This document is for informational purposes only and is not intended as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy, are based upon selected public market data, and reflect prevailing conditions and BitBull’s views as of this date, all of which are accordingly subject to change without notice. BitBull has no obligation to continue offering reports regarding the project. Reports are prepared as of the date(s) indicated and may become unreliable because of subsequent market or economic circumstances.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This report’s estimated fundamental value only represents a best efforts estimate of the potential fundamental valuation of a specific token, and is not expressed as, or implied as, assessments of the quality of a token, a summary of past performance, or an actionable investment strategy for an investor.

This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment or token discussed herein.

The information contained in this document may include, or incorporate by reference, forward-looking statements, which would include any statements that are not statements of historical fact. These forward-looking statements may turn out to be wrong and can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, most of which are beyond BitBull’s control. Investors should conduct independent due diligence, with assistance from professional financial, legal and tax experts, on all tokens discussed in this document and develop a stand-alone judgment of the relevant markets prior to making any investment decision.

Secured By miniOrange