Bitcoin’s role in global markets has become clear amidst rising tension between the US and North Korea. Investors have started to include Bitcoin in their portfolios as a safe haven asset, due to its immutability to economic uncertainty and the instability of global markets.Analysts including InvestFeed CEO Ron Chernesky and Jeff Rosenberg, fixed income strategist at Blackrock, a US-based investment management company with over $5.7 tln in assets under management, noted that the intensified conflict between the US and North Korea has led to equity markets sell-off and ultimately to mid-term economic uncertainty. As a result, Chernesky explained that a rapidly rising number of investors and traders have begun to shift their focus towards Bitcoin as a safe haven asset and long-term investment. Chernesky said: “We’re seeing investors transferring their funds into cryptocurrencies as they try to diversify their risk in case of a severe downturn in the market. The space has gone from niche to more widely adopted with one of the main draws being that cryptocurrencies are seen as less correlated with other assets.”
The author of the article Joseph Young https://cointelegraph.com/authors/joseph_young
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