{"id":417931,"date":"2020-03-12T19:00:09","date_gmt":"2020-03-12T19:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=417931"},"modified":"2020-03-12T16:20:14","modified_gmt":"2020-03-12T16:20:14","slug":"silver-gold-bitcoin-even-safe-haven-coronavirus","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/silver-gold-bitcoin-even-safe-haven-coronavirus\/","title":{"rendered":"Silver, Gold and Bitcoin: Even Safe Haven Assets Cannot Withstand The Coronavirus"},"content":{"rendered":"

When a crisis hits, investors move their capital into safe-haven assets like gold and silver. Bitcoin<\/a> shares similar attributes as these precious metals, and a growing narrative suggesting it too will become a safe haven asset like gold has followed the asset over the last two years.<\/span><\/p>\n

However, growing fears and concerns over the coronavirus reaching pandemic status, and the impact it is having on the economy and humanity itself, has caused even the strongest of safe-haven assets to collapse. And the blow to Bitcoin may have ended the safe haven narrative permanently.<\/span><\/p>\n

Silver, Gold, and Bitcoin Come Collapsing Down After Coronavirus Reaches Pandemic Status<\/h2>\n

As the economy has inched closer to a recession over the last several years, investors have been slowly preparing for the inevitable by moving their money from stocks to gold<\/a>, silver, and other more stable assets.<\/span><\/p>\n

And while Bitcoin<\/a> is anything but stable, the asset sharing important attributes with these precious metals has caused a safe haven narrative to surround the asset since the start of 2019, when the cryptocurrency began rising alongside gold.<\/span><\/p>\n

Related Reading | Has the Coronavirus Put an End To the Bitcoin Safe Haven Narrative?\u00a0<\/a><\/strong><\/em><\/p>\n

The safe-haven narrative recently took a turn<\/a>, as gold and silver maintained strength amidst a complete and utter collapse of the stock market<\/a>, while Bitcoin began to nosedive.<\/span><\/p>\n

However, after last night\u2019s failure from the United States President Donald Trump<\/a> to ease the public\u2019s concerns over the spread of the pandemic and the latest developments around the virus have struck the film industry, sports, and travel.<\/span><\/p>\n

Following a late-night update on the coronavirus from Trump, Dow futures began to plummet, kicking off a panic-induced selloff across the greater finance market.<\/span><\/p>\n

The selloff didn\u2019t just hit stocks, it caused gold and silver \u2013 the two main safe-haven assets \u2013 to suffer severe losses.<\/span><\/p>\n

\"gold \"silver<\/p>\n

Bitcoin<\/a> suffered even worse, setting a lower low and smashing through the asset\u2019s logarithmic growth curve and a seven-year-long bull market trend line.<\/span><\/p>\n

\"\"<\/p>\n

The young crypto asset\u2019s future is now in jeopardy, and if gold and silver which have served as a store of wealth, currency, and safe haven for ages can\u2019t withstand the coronavirus and the stock market selloff, then neither will Bitcoin and the rest of the crypto market<\/a>.<\/span><\/p>\n

Related Reading | Is the Coronavirus The Black Swan Event That Crushes Cryptocurrency?\u00a0<\/a><\/strong><\/em><\/p>\n

As for what may bring relief to the markets, only a vaccine as this point will be enough to ease concerns, however, experts say that may be weeks, months, or even a year away<\/a>.<\/span><\/p>\n

With markets in total collapse and an end nowhere in sight, this recession may end up being the worst the world has ever witnessed.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
When a crisis hits, investors move their capital into safe-haven assets like gold and silver. Bitcoin shares similar attributes as these precious metals, and a growing narrative suggesting it too will become a safe haven asset like gold has followed the asset over the last two years. However, growing fears and concerns over the coronavirus reaching pandemic status, and the impact it is having on the economy and humanity itself, has caused even the strongest of safe-haven assets to collapse. And the blow to Bitcoin may have ended the safe haven narrative permanently. Silver, Gold, and Bitcoin Come Collapsing Down After Coronavirus Reaches Pandemic Status As the economy has inched closer to a recession over the last several years, investors have been slowly preparing for the inevitable by moving their money from stocks to gold, silver, and other more stable assets. And while Bitcoin is anything but stable, the asset sharing important attributes with these precious metals has caused a safe haven narrative to surround the asset since the start of 2019, when the cryptocurrency began rising alongside gold. Related Reading | Has the Coronavirus Put an End To the Bitcoin Safe Haven Narrative?\u00a0 The safe-haven narrative recently took a turn, as gold and silver maintained strength amidst a complete and utter collapse of the stock market, while Bitcoin began to nosedive. However, after last night\u2019s failure from the United States President Donald Trump to ease the public\u2019s concerns over the spread of the pandemic and the latest developments around the virus have struck the film industry, sports, and travel. Following a late-night update on the coronavirus from Trump, Dow futures began to plummet, kicking off a panic-induced selloff across the greater finance market. The selloff didn\u2019t just hit stocks, it caused gold and silver \u2013 the two main safe-haven assets \u2013 to suffer severe losses. Bitcoin suffered even worse, setting a lower low and smashing through the asset\u2019s logarithmic growth curve and a seven-year-long bull market trend line. The young crypto asset\u2019s future is now in jeopardy, and if gold and silver which have served as a store of wealth, currency, and safe haven for ages can\u2019t withstand the coronavirus and the stock market selloff, then neither will Bitcoin and the rest of the crypto market. Related Reading | Is the Coronavirus The Black Swan Event That Crushes Cryptocurrency?\u00a0 As for what may bring relief to the markets, only a vaccine as this point will be enough to ease concerns, however, experts say that may be weeks, months, or even a year away. With markets in total collapse and an end nowhere in sight, this recession may end up being the worst the world has ever witnessed. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":417935,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,68700,6664,2209,7920,3864],"class_list":["post-417931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-coronavirus","tag-crypto","tag-gold","tag-recession","tag-silver"],"acf":[],"yoast_head":"\nSilver, Gold & Bitcoin: Safe Haven Assets Cannot Withstand Coronavirus<\/title>\n<meta name=\"description\" content=\"When a crisis hits, investors move their capital into safe-haven assets like gold and silver. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Silver, Gold and Bitcoin: Even Safe Haven Assets Cannot Withstand The Coronavirus","url":"http:\/\/wncen.com\/news\/silver-gold-bitcoin-even-safe-haven-coronavirus\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/silver-gold-bitcoin-even-safe-haven-coronavirus\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/gold-silver-bitcoin-coronavirus-shutterstock_302111210-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/gold-silver-bitcoin-coronavirus-shutterstock_302111210-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","coronavirus","crypto","gold","recession","silver"],"dateCreated":"2020-03-12T19:00:09Z","datePublished":"2020-03-12T19:00:09Z","dateModified":"2020-03-12T19:00:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Silver, Gold and Bitcoin: Even Safe Haven Assets Cannot Withstand The Coronavirus\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/silver-gold-bitcoin-even-safe-haven-coronavirus\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/silver-gold-bitcoin-even-safe-haven-coronavirus\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/gold-silver-bitcoin-coronavirus-shutterstock_302111210-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/gold-silver-bitcoin-coronavirus-shutterstock_302111210-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"coronavirus\",\"crypto\",\"gold\",\"recession\",\"silver\"],\"dateCreated\":\"2020-03-12T19:00:09Z\",\"datePublished\":\"2020-03-12T19:00:09Z\",\"dateModified\":\"2020-03-12T19:00:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/gold-silver-bitcoin-coronavirus-shutterstock_302111210-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/417931"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=417931"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/417931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/417935"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=417931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=417931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=417931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}