South Korean Experts Say Crypto Is a Poor Safe-Haven Asset

[Nikko]

South Korean Experts Say Crypto Is a Poor Safe-Haven Asset

A leading South Korean professor from the Hongik University does not believe cryptocurrencies are safe from market recession.
On June 11, South Korean experts stated through local media that cryptocurrencies are a “poor choice” of safe-haven assets during the COVID-19 pandemic.

According to The Scoop, Professor Hong Ki-hoon of Hongik University stated that crypto-assets like Bitcoin (BTC) should not be considered as “safe-haven assets,” at the level of Gold, dollars, or even the U.S. Treasury bonds. He does not deny, however, that volatility in the financial markets is causing more money to accumulate in the crypto market.

Readmore: https://cointelegraph.com/news/south-korean-experts-say-crypto-is-a-poor-safe-haven-asset

[Alcor]

During the coronavirus pandemic, cryptocurrency really really fell in price at first, because people urgently needed money to prepare for protection against the spread of coronavirus. However, this was not due to inflation. If a global economic crisis sets in, its main indicator will be a sharp increase in inflation. It is expected that at this time, the cryptocurrency will have to prove itself as a reliable refuge from inflation and, in connection with an increase in demand for it, even increase significantly in price. Cryptocurrency appeared after the global economic crisis of 2008 and this will be the first economic crisis in which it will exist.