The Relationship Between Safe -haven Property and Cryptocurrency Market: Taking Bitcoin as an example

Abstract

In this paper, the main research is whether Bitcoin has the property of hedge currency. It also shows how bitcoin and cryptocurrencies have fared in financial crises over the past 20 years. This is despite the fact that the volatility of bitcoin has long been debated around the world, and most people believe that a volatile and highly volatile currency is not a safe haven. But the fact is, although the birth time of bitcoin is very short, but in every financial crisis, it has a strong ability to rise, so to some extent, Bitcoin is actually a very realistic hedging property. And among cryptocurrencies, Bitcoin has the absolute suppression of hedge properties, compared with other altcoins. Bitcoin's rise and fall have been astonishing, but it has been remarkably stable compared to altcoins.