Is Bitcoin Still a Risk-on Asset

[Bash4j]

Is Bitcoin Still a Risk-on Asset?
In terms of specific events that may have led to increased downward pressure on the bitcoin price, some crypto enthusiasts have pointed to China’s Evergrande Group filing for bankruptcy. “Unrelated risk-on assets such as Bitcoin and cryptocurrencies are feeling the impact, said crypto trading platform PrimeXBT.
While bitcoin is commonly referred to as “digital gold” and an aspirational hedge against economic turmoil, the reality is the crypto asset often falls along with other risk-on assets at times of uncertainty, as was the case at the beginning of the COVID-19 pandemic.
That said, Coinshares views a potential full-blown economic crisis as a possible boon for Bitcoin. “While we consider a full financial meltdown unlikely, should it transpire, it might bolster Bitcoin, especially if the repercussions permeate the broader financial sector,”

But the week was not all rough, the rebranding of Bitkeep wallet into BitgetWallet aims to deliver a more uniform visual presence as part of the Bitget ecosystem, Coinbase regulations approval for offering crypto fututu trading in the U.S. ware a bright spot for the crypto markets this week.

 

[ImamShaheb]

Is Bitcoin Still a Risk-on Asset?
In terms of specific events that may have led to increased downward pressure on the bitcoin price, some crypto enthusiasts have pointed to China’s Evergrande Group filing for bankruptcy. “Unrelated risk-on assets such as Bitcoin and cryptocurrencies are feeling the impact, said crypto trading platform PrimeXBT.
While bitcoin is commonly referred to as “digital gold” and an aspirational hedge against economic turmoil, the reality is the crypto asset often falls along with other risk-on assets at times of uncertainty, as was the case at the beginning of the COVID-19 pandemic.
That said, Coinshares views a potential full-blown economic crisis as a possible boon for Bitcoin. “While we consider a full financial meltdown unlikely, should it transpire, it might bolster Bitcoin, especially if the repercussions permeate the broader financial sector,”

But the week was not all rough, the rebranding of Bitkeep wallet into BitgetWallet aims to deliver a more uniform visual presence as part of the Bitget ecosystem, Coinbase regulations approval for offering crypto fututu trading in the U.S. ware a bright spot for the crypto markets this week.

BTC will be on peak in terms of usecase/real life implement if the current financial system collapse. I don't think, that's gonna happen because US economy is quite strong till now!


By the way, what's new with BitgetWallet,m I've used bitkeep before!

 

[Bash4j]

BTC will be on peak in terms of usecase/real life implement if the current financial system collapse. I don't think, that's gonna happen because US economy is quite strong till now!


By the way, what's new with BitgetWallet,m I've used barkeep before!

In line with the project plan to build a more product-focused team with the vision to improve the service stability and security of the non-custodial wallet via relying on the exchange $300 million User Protection Fund in the event of any potential security threats in the future.
According to the exchange CEO gracy Chen. Bitget Wallet team (Previously BitKeep)) will strive to bring the most-used DeFi features, swap, NFT marketplace, and dApps, to the millions of users in the Bitget ecosystem, inspiring the next 1 billion individuals to embrace crypto.

 

[BashirJasper]

I'm impressed with how exchanges are trying to keep up with the challenges of the industry especially now that everyone wants to safekeep their assets

 

[ImamShaheb]

In line with the project plan to build a more product-focused team with the vision to improve the service stability and security of the non-custodial wallet via relying on the exchange $300 million User Protection Fund in the event of any potential security threats in the future.
According to the exchange CEO gracy Chen. Bitget Wallet team (Previously BitKeep)) will strive to bring the most-used DeFi features, swap, NFT marketplace, and dApps, to the millions of users in the Bitget ecosystem, inspiring the next 1 billion individuals to embrace crypto.

Is there any announcements of interacting Bitget's 'Megaswap' with BitgetWallet(Bitkeep)?

 

[ImamShaheb]

I'm impressed with how exchanges are trying to keep up with the challenges of the industry especially now that everyone wants to safekeep their assets

Exchange's that kinda moves are obviously awesome but not every exchange are doing that! That's why proper research works on selecting better & suitable CEX!