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“Bitcoin, Plunging After Iran Airstrikes, Still Digital Gold?”
Asia-based Web3 research and consulting firm Tiger Research analyzed in a report titled “Bitcoin (BTC), Plunging After Iran Airstrikes, Still Digital Gold?” that Bitcoin has yet to fulfill the role of ‘digital gold.’ The report noted, “During six geopolitical crises, Bitcoin repeatedly showed a pattern of sharp declines, unlike gold. While nations stockpile gold, Bitcoin remains merely under consideration. The factors preventing Bitcoin from becoming a safe-haven asset include △ an excess of derivatives (market structure) △ a market dominated by leveraged traders (participant composition) △ and the lack of a cumulative track record of consistent behavior (behavioral accumulation). However, Bitcoin can serve as a useful asset in crises when banks come to a halt. If changes occur across these three factors, Bitcoin has the potential to establish itself not as an imitation of gold, but as the ‘next gold.’”
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