According to the latest report from JPMorgan Chase cited by Decrypt, since the recent market volatility triggered by the global trade war initiated by President Trump, the hypothesis of Bitcoin as a safe haven has not reached a mythical level. Investors tend to pour money into gold more. The investment bank's analysts confirmed on Thursday that when investors seek a safe place, gold and gold ETFs are receiving the majority of investments. Gold prices have reached a record high of $3,660 per ounce this week. Meanwhile, Bitcoin has dropped over 20% since reaching $109,000 on January 20, the day President Trump took office, currently hovering around $85,000.
The Thursday report noted that "Bitcoin has not effectively leveraged safe-haven cash flows in recent months". Although investors are pouring money into gold ETFs, speculators are withdrawing Capital from new US cryptocurrency ETFs. Geopolitical instability, President Trump's strong tax policies, and concerns about economic recession have prompted investors to choose gold as the ultimate safe-haven asset. This content is only intended to provide market information and does not constitute investment advice.
