However, during periods of financial instability, such as the 2022 outbreak of the Russia-Ukraine conflict or the 2023 Silicon Valley Bank collapse, Bitcoin tends to act as a safe-haven asset, similar to gold.“These moments are rare,” Chung explained, “[They] only happened when the market has doubts about the stability of the US dollar-dominated financial system.”While Bitcoin has lagged behind gold during recent market turbulence, Chung suggested BTC could “catch up” and potentially outperform traditional safe-haven assets by year’s end.
Related: Bitcoin trades at ‘40% discount’ as spot BTC ETF buying soars to $3B in one weekBitcoin’s dual role Chung also discussed Bitcoin’s dual nature, describing it as both a “risk-on asset” and “digital gold.”He said that Bitcoin typically behaves like a high-risk asset driven by user adoption and network effects.
Related: New Bitcoin price all-time highs could occur in MayBitcoin hits $94,000 as institutional adoption expandsEchoing Chung’s view, Bitwise CEO Hunter Horsley said in a recent post on X that Bitcoin’s surge to $94,000 has occurred with minimal retail participation, noting that Google searches for “Bitcoin” remain near long-term lows.
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Author / Journalist: Cointelegraph by Amin Haqshanas
The story "Bitcoin could hit $210K in 2025, says Presto research head" has 430 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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