Much has been made in the news of late about the tensions between the US and North Korea. This has possibly been for good reason, but what does this have to do with bitcoin?
Well, I am a bitcoin bull, but I have been a bit skeptical of how bitcoin would truly fair in times of global uncertainty. I would ask myself, "If something REALLY bad happens (recession, war, etc.) are people going to liquidate their bitcoins into fiat because things are getting serious, and fiat currency is still what they truly trust deep down?"
Well those questions seem to be somewhat getting answered with every news cycle around North Korea. If you look back the last few weeks, every point of escalation has resulted in stocks retreating, and bitcoin going up in value. This is an incredibly positive sign that people are viewing crypto as a legitimate safe haven asset like gold.
It seems we are at a stage in the stock market cycle where the probability of adverse effects are more likely than more positive ones. As we have seen above, this would be a very positive thing for bitcoin!
