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RE: 📉 Fiat Continues To Crash and Bitcoin Continues To Try and Make Sense Of It All

in #bitcoin7 years ago

Hi, first bitcoin is not a safe haven yet. It is not even an asset class right now. Secondly, italy has been dealing with rising NPAs at banks for a long time and yesterday's sell only reestablished dollars and yens position as a safe currency. Check out the rise in dollar index lately. Third, bank stocks in US fell because banks may be exposed to italian debt and because treasuries rose sharply. Declining rates are bad for banking stocks as they lose net interest income.

So yeah, bitcoin was probably just seeing regular activity.