[Analysis] Bitcoin isn't the safe haven for Chinese investors we thought it was - Nick Chong

An longstanding narrative in Bitcoin circles is the cryptocurrency's use as a potential safe haven for institutional and retail investors amid and ongoing and escalating trade war. But there is a fair amount of evidence that Bitcoin isn't the perfect hedge against the Chinese trade war that some analysts have painted it as, explains LongHash contributor Nick Chong. Among the signals point to holes in the safe haven narrative, Chong notes points out the discount that Bitcoin traded at in Asian markets and analysis from macro investors on the lack of effect on Chinese consumers from the U.S.-China trade war. Chong concludes by adding:

"So sure, Bitcoin outperforming traditional asset classes amid an entrenched period of geopolitical turmoil and recession fears is a sign that it might be non-correlated and unaffected by downturns in traditional markets. But to call it a viable safe haven play might be a bit shortsighted… at least for now."