April is a month of intense volatility and chaotic weather for entrepreneurs.
From conflicting titles about President Donald Trump’s tariffs against other countries to the total confusion about which possession of search for shelter, this is one for record books.
In the midst of all confusion, when the traditional “Haven Assets” failed to act as a safe place to park money, a bright spot appeared that some market participants might have been surprised: Bitcoin.
“History, cash (the US dollar), bonds (US treasury), the Swiss Franc, and gold fulfill that paper (safe shelter), with Bitcoin overlapping some of that territory,” Nydig Research said on a note.
Nydig’s data showed that while Gold and Swiss Franc became consistently safe winners, since ‘Liberation Day’-President Trump announced that he was sweeping tariff increases on April 2, kicking intense volatility in the market-Bitcoin was added to the list.
“Bitcoin has acted less like a liquid-levered version of levered US equity beta and more like the uninformed issued store of this value,” Nydig wrote.
When it comes out, it seems that as a “Sell America” trade momentum, investors have noticed Bitcoin and the original promise of the largest cryptocurrency.
“Although the connection is still temporary, Bitcoin appears to have fulfilled its original commitment as a non -sovereign value store, designed to develop at times like this,” Nydig added.
Read more: The safe shelter of gold and bond can fade to the emergence of bitcoin
