The US capital markets got pummeled again today, with the Dow Jones Industrial average shedding 880 points (3.15%). It was more of the same headlines as yesterday – primarily the spreading of the coronavirus and its impact on commerce.
One thing that has not held up in the concept of Bitcoin as a safe haven, store of value asset. Bitcoin has not been spared the overall decrease over the last couple of days, heading down about 8% when it should have rallied as investors looked for a place to hide in case of a larger market correction.
Well, on the bright side, cheaper equities allow for more accumulation at lower prices which should be a benefit to long term holders for the future. The last time we saw Bitcoin go over $10,000 I thought we would never again see under that number, but I have been proven wrong again… perhaps it is time to add a little BTC as well.