Bitcoin's recent price drop proves it's not a 'safe haven' investment

Bitcoin, a digital cryptocurrency born in 2009 on the heels of the last major financial crisis, has long been propped up by the idea that it is akin to digital gold. It's been regarded as a "safe haven" type of investment, something that you can safely pack your money into when stock prices are falling. 

Judging by the price action in the past couple of weeks, however, Bitcoin is definitely not that — at least, not yet. 

In just two days, the price of Bitcoin has halved, going from around $8,000 to about $4,000, according to CoinMarketCap (the price actually went even lower on individual exchanges such as Coinbase). The prices of other cryptocurrencies followed suit, most with even bigger losses.  Read more...