{"id":633553,"date":"2024-08-07T05:00:19","date_gmt":"2024-08-07T05:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=633553"},"modified":"2024-08-06T17:43:04","modified_gmt":"2024-08-06T17:43:04","slug":"is-bitcoin-really-safe-new-insights-from-black-swan-author-on-recent-crash","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-really-safe-new-insights-from-black-swan-author-on-recent-crash\/","title":{"rendered":"Is Bitcoin Really Safe? New Insights from ‘Black Swan’ Author on Recent Crash"},"content":{"rendered":"

Bitcoin has led a global crypto market downturn in the past few days, with the asset down to as low as $49,751<\/a> on August 5. This significant plunge from Bitcoin has been attributed by many to the downturn in the Japanese markets.<\/p>\n

The Trigger in Japan<\/h2>\n

Speaking on the crash, Nassim Nicholas Taleb, a risk analyst, author of “The Black Swan” and a well-known\u00a0Bitcoin detractor, sheds light on the origins of the recent market disruptions<\/a> that have rippled through to cryptocurrencies.<\/p>\n

Related Reading: Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel<\/a><\/div>\n

On Monday, the Japanese stock market fell severely, dropping by more than 10%.\u00a0The\u00a0report said<\/a><\/span>\u00a0this plunge came “amid risk from a stronger yen, tighter monetary policy, and concern over the US recession.”<\/p>\n

The narrative begins with Japan’s economic policies, where after maintaining zero interest rates for an unprecedented thirty-three years coupled with nearly two and a half decades of quantitative easing, the Bank of Japan (BOJ) found itself cornered into a position where adjustments seemed inevitable.<\/p>\n

The abrupt decision by the BOJ to raise interest rates led to a sharp downturn in the Nikkei 225, a major stock index, which in turn sent shockwaves across global markets, including the cryptocurrency sector<\/a>.<\/p>\n

According to Taleb, this sharp pivot in policy was a long time coming, as the artificial suppression of interest rates and excessive liquidity injection often come with hefty long-term costs.<\/p>\n

The Japanese approach, often hailed as a successful\u00a0<\/a>quantitative easing model<\/span>, now faces critical scrutiny as it appears the bill for years of economic manipulation is due. Taleb particularly noted in the post on X:<\/p>\n

\n
\n
\n
Nearly 33 years of (near) Zero Interest Rates (ZIRP) and 23 years of Quantitative Easing come at a price you eventually must<\/span> pay. (Japan was always mentioned by the QE fools as a place where the strategy worked).<\/div>\n<\/blockquote>\n

Is Bitcoin Safe?<\/h2>\n

Bitcoin dipped to a 7-month low during the global market plunge, dropping below $50,000. This fall impacted the crypto market so much that the total liquidations surpassed $1 billion.<\/p>\n

Given this significant negative impact attributed to the plunge in the Japanese market, some might question if Bitcoin is still safe, especially as a safe haven.<\/p>\n

However, it is worth noting that Bitcoin has since proved to be a digital asset worth considering as a safe haven when it comes to times like this. In March 2023, when major banks in the US<\/a> were collapsing, Bitcoin saw a rise to as high as $29,000\u2014a notable increase from its lowest levels below $20,000 that month.<\/p>\n

 <\/p>\n

\"Bitcoin
BTC price is moving downwards on the 1-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

 <\/p>\n

Besides, it is also worth noting that not only Bitcoin was a victim of the impact of this Japanese market crash, as several other major crypto assets, including Ethereum and Solana, experienced a drastic fall. For context, Ethereum fell as low as $2,197\u2014a low not seen since January of this year; Solana also bore the brunt, dipping to $110.<\/p>\n

Aside from these major cryptocurrencies, traditional assets<\/a> also received their share of impact, with Nvidia, Tesla,<\/span> and Apple falling at least 4%.<\/p>\n

Related Reading: Investors Pull Back: $528 Million Vanishes From Crypto Funds Amid Economic Fear<\/a><\/div>\n<\/div>\n

This shows that the recent crash didn’t suggest that Bitcoin was unsafe enough; instead, it reveals its correlation to changes in the global economic sector.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has led a global crypto market downturn in the past few days, with the asset down to as low as $49,751 on August 5. This significant plunge from Bitcoin has been attributed by many to the downturn in the Japanese markets. The Trigger in Japan Speaking on the crash, Nassim Nicholas Taleb, a risk analyst, author of “The Black Swan” and a well-known\u00a0Bitcoin detractor, sheds light on the origins of the recent market disruptions that have rippled through to cryptocurrencies. Related Reading: Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel On Monday, the Japanese stock market fell severely, dropping by more than 10%.\u00a0The\u00a0report said\u00a0this plunge came “amid risk from a stronger yen, tighter monetary policy, and concern over the US recession.” The narrative begins with Japan’s economic policies, where after maintaining zero interest rates for an unprecedented thirty-three years coupled with nearly two and a half decades of quantitative easing, the Bank of Japan (BOJ) found itself cornered into a position where adjustments seemed inevitable. The abrupt decision by the BOJ to raise interest rates led to a sharp downturn in the Nikkei 225, a major stock index, which in turn sent shockwaves across global markets, including the cryptocurrency sector. According to Taleb, this sharp pivot in policy was a long time coming, as the artificial suppression of interest rates and excessive liquidity injection often come with hefty long-term costs. The Japanese approach, often hailed as a successful\u00a0quantitative easing model, now faces critical scrutiny as it appears the bill for years of economic manipulation is due. Taleb particularly noted in the post on X: Nearly 33 years of (near) Zero Interest Rates (ZIRP) and 23 years of Quantitative Easing come at a price you eventually must pay. (Japan was always mentioned by the QE fools as a place where the strategy worked). Is Bitcoin Safe? Bitcoin dipped to a 7-month low during the global market plunge, dropping below $50,000. This fall impacted the crypto market so much that the total liquidations surpassed $1 billion. Given this significant negative impact attributed to the plunge in the Japanese market, some might question if Bitcoin is still safe, especially as a safe haven. However, it is worth noting that Bitcoin has since proved to be a digital asset worth considering as a safe haven when it comes to times like this. In March 2023, when major banks in the US were collapsing, Bitcoin saw a rise to as high as $29,000\u2014a notable increase from its lowest levels below $20,000 that month.     Besides, it is also worth noting that not only Bitcoin was a victim of the impact of this Japanese market crash, as several other major crypto assets, including Ethereum and Solana, experienced a drastic fall. For context, Ethereum fell as low as $2,197\u2014a low not seen since January of this year; Solana also bore the brunt, dipping to $110. Aside from these major cryptocurrencies, traditional assets also received their share of impact, with Nvidia, Tesla, and Apple falling at least 4%. Related Reading: Investors Pull Back: $528 Million Vanishes From Crypto Funds Amid Economic Fear This shows that the recent crash didn’t suggest that Bitcoin was unsafe enough; instead, it reveals its correlation to changes in the global economic sector. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":633561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,506,629,6848,1119,78790,6664,10923],"class_list":["post-633553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\nIs Bitcoin Really Safe? New Insights from 'Black Swan' Author on Recent Crash<\/title>\n<meta name=\"description\" content=\"In the past few days, Bitcoin has led a global crypto market downturn with the asset down to as low as $49,751 on August 5. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Bitcoin Really Safe? 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