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Caitlin Long Comments on safe-haven narrative - can’t Judge Bitcoin on a Two Week Movement

Caitlin Long Comments on safe-haven narrative - can’t Judge Bitcoin on a Two Week Movement
  • The continuous volatility in the cryptocurrency space over the past few weeks has given rise to several uncertainties throughout the world. 
  • Many holders of bitcoin will continue to fill their crypto portfolios whereas some others will have attempted to liquidate the assets that they are currently own.

The continuous volatility in the cryptocurrency space over the past few weeks has given rise to several uncertainties throughout the world. Many holders of bitcoin will continue to fill their crypto portfolios whereas some others will have attempted to liquidate the assets that they are currently own. The safe-haven story that bitcoin has is something we have spoken on earlier and has been questioned significantly over the past few weeks due to its response to the outbreak of coronavirus.

The CEO and founder of Avanti Financial Group, Caitlin Long recently spoke in a recent podcast with Anthony Pompliano. She gave the opinion that whether it was a bitcoin or gold, the safe-haven story is something that cannot be judged on just a one or two-week movement cycle. 

She further said that the assets of a safe-haven are usually the ones that are first sold as they aren’t tied up in a leveraged financial structure. 

She further went on to say:

“That leverage has definitely got an impact on them, right? […]if you own the physical gold or you own your private keys for your crypto assets, they’re yours. You have outright title to those assets.”

On top of this, Long noted that such narratives should not be dependent on the short-term price of the crypto market given their high volatility.

The CEO of the crypto hedge fund, BitBull Capital, Joe DiPasquale also give his opinion that the leading cryptocurrency was positioned very well to be a safe haven. However, the well-known bitcoin naysayer, Nouriel Roubini is a big believer that the leading cryptocurrency was turning out to be more of a risk asset with its price losing out significantly over the past few weeks.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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