Crypto Prices Mixed; Too Soon to Call Bitcoin a Safe-Haven, Analysts Say By Investing.com

© Reuters.

Investing.com – Cryptocurrency prices were mixed on Thursday in Asia. Brian Belski, chief investment strategist at BMO Capital Markets, said it is too soon to call a safe-haven asset.
Bitcoin traded 3.1% higher to $12,010.2 by 11:10 PM ET (03:10 GMT).
The move upwards pushed Bitcoin’s market cap up to about $210B, or about 68% of the total cryptocurrency market cap.
Bitcoin has now jumped almost 20% in the past seven days. Some called it a safe-haven asset as it surged while stock markets in the U.S. plunged earlier in the week amid escalating Sino-U.S. trade dispute.
However, Belski disagreed.
“Bitcoin has been excessively volatile, especially the last couple of years. It’s the sexy kind of thing to go to now. I don’t base my investments on sex appeal. I base my investment on longer-term perspective,” Belski said in an interview with CNN.
“And I think the longer-term perspective, in terms of Bitcoin being that safe haven, I think it’s way too soon to call that.”
Elsewhere in cryptocurrency trading, dropped 0.7% to $224.84, was down 0.4% to $0.31144, while fell 1.8% to $91.431.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Category: