Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Elections 2019
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Science News / Bitcoin gets spooked, fails future safe-haven test
  • Science

    Bitcoin gets spooked, fails future safe-haven test

    Anish Chakraborty
    Written by
    Anish Chakraborty
    Mail
    Last updated on Sep 06, 2017, 01:05 am
    Bitcoin gets spooked, fails future safe-haven test
  • Digital currencies are perceived to be above regional crisis and political strife.

    They should be, in general, insulated from everything that ends up spooking traditionally traded items, such as stocks or metals.

    However, post a provocative nuclear test by North Korea, we are witnessing the haven of future balking under the tremors, something which it was supposed to be immune to.

    Here's more.

  • In this article
    It's quite unexpected Although it's not supposed to be region specific It has to be near shock proof
  • Gold

    It's quite unexpected

    It's quite unexpected
  • Bitcoin is the most popularly traded cryptocurrency. However, in the wake of global tension arising from North Korea's nuclear program, gold and even the Japanese yen is outperforming it.

    Tokyo is only 800 miles away from Pyongyang, the capital city of North Korea and it's still putting up a better show than the non-state-controlled cryptocurrency.

    Cryptocurrencies aren't holding up their end of the bargain.

  • China

    Although it's not supposed to be region specific

    Although it's not supposed to be region specific
  • The recent drop of crypto assets has been attributed partly to China's crackdown on ICOs. China's inspection committee placed a ban on the ICOs, saying some of them are financial scams and they have "seriously disrupted the economic and financial order."

    China hosts one of the most active Bitcoin communities in the world. Therefore, the aftermath, of this ban on cryptocurrencies, is understandable.

  • Cryptocurrency

    It has to be near shock proof

    It has to be near shock proof
  • However, these incidents and their subsequent tremors in crypto assets, kind of, defeat its purpose. Earlier, investors hoarded gold during a crisis because it was a safe bet. Even now, in certain corners, it's the way to go.

    Cryptocurrency will never emerge truly as a reliable future asset if it's unable to prove itself immune to such incidents. It's still in its nascent stages.

  • North Korea
  • Bitcoin
  •  
Latest News
  • History created: Sensex hits 50,000 for first time ever
    History created: Sensex hits 50,000 for first time ever
    Business
  • President Biden signs executive orders to undo Trump's legacy
    President Biden signs executive orders to undo Trump's legacy
    World
  • Coronavirus: India's tally reaches 10.61 million with 15K new cases
    Coronavirus: India's tally reaches 10.61 million with 15K new cases
    India
  • Netflix Shuffle Play likely to roll out later this year
    Netflix Shuffle Play likely to roll out later this year
    Science
Related Timelines
  • Bitcoin breaks through $20,000 to reach all-time high
    Bitcoin breaks through $20,000 to reach all-time high
    Business
  • Bitcoin goes through third 'halving': Here's what it means
    Bitcoin goes through third 'halving': Here's what it means
    Business
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Science news?

Subscribe to stay updated.

Science Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Cricket News Donald Trump Hollywood News WhatsApp Netflix Bollywood News
Mamata Banerjee Rahul Gandhi Football News Vaccine Congress Manchester United Salman Khan Premier League Chelsea Leicester City
PhonePe Ford Datsun Volvo S60 Latest Gadget Launch Latest Automobile News Coronavirus Brisbane Test MediaTek Dimensity 1000+ COVAXIN
Latest Tech News
About Us Privacy Policy Terms & Conditions Contact Us News News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021