Bitcoin — just a ‘wartime safe haven’?

How coronavirus has debunked the Bitcoin safe haven theory.

This week saw heavy losses for bitcoin with sudden price drops seeing the cryptocurrency losing more than 20% of its value in a matter of hours. The dramatic dive comes after months of sustained price growth where Bitcoin went from below $7,000 at the beginning of the year to just over $10,000 by the end of February.

The recent drop calls into question Bitcoins merit as a safe haven asset. Global fears over the fallout of COVID-19 has lead…