The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

According to AMBCrypto on February 29, as Bitcoin's downward trend expanded other markets, gold supporter Peter Schiff began to criticize the digital asset again. Peter
Schiff once again denied the view that Bitcoin outperformed gold as a "safe haven asset" and "value storage means", and his remarks became the focus of public attention.

(Photo source: pxfule)

With the increasing selling pressure, Bitcoin has experienced a difficult week, and its price has returned to the level of more than $8,000. Although Wall Street Journal trader P.T
Barmum may see this decline as a good "bottom-picking" opportunity, Peter Schiff said:

Bitcoin has not been around long enough to prove P.T Barmum's view. I have seen too many fools, and many of them have Bitcoin.

Bitcoin's status as a safe haven asset has been questioned again. Arcane said in his latest blog that Bitcoin is indeed not a safe haven asset in terms of its response to the instability of the global economy. Arcane
Research CEO Torbjørn Bull Jenssen and analyst Bendik Norheim Schei said in a recent article:

Bitcoin is a safe haven asset not because its price will rise during times of global economic instability, but because it has two unique properties.

The two went on to say that it is precisely because of Bitcoin's non-correlation with all other asset classes and its censorship resistance that it has become a safe haven asset.

A report shows that both Bitcoin and gold have had positive returns on investment this year, with gold's return so far reaching 11.51%, a record high seven years ago.

The chart below shows the difference between Bitcoin and the S&P 500.

Image source: Skew

However, despite Bitcoin's continued growth at the beginning of the year, its recent performance has been in line with the stock market and is in a downward trend. The report stated:

For many people, the so-called safe asset means that people hold it when the stock market plummets and the world is in turmoil. Or it presents itself in another way, such as having a clear negative correlation with the stock market. When we look at an asset like Bitcoin, it is important to study whether it has negative or no correlation with other markets.

Low correlation with traditional assets is not the only criterion for classifying an asset as a safe haven. Other important criteria include liquidity, confiscation, censorship resistance, and low credit risk.

Bitcoin is completely different from most other assets in that it has almost no risk of confiscation and credit risk. Holding Bitcoin does not require uncertainty events, that is, when you own physical Bitcoin, you are not subject to credit or confiscation risk.

The researchers pointed to the 2008 economic crisis as an example, saying that the flaws in the economic system during this time are what makes Bitcoin different. Users can buy Bitcoin without worrying about the uncertainty behind it. Despite some flaws, Bitcoin performs better than gold in many ways, such as it can be used anywhere in the world, not just stored in national vaults. The researchers concluded:

The spread of fear of a global pandemic and the decline of the stock market are irrelevant to the rise of Bitcoin's price. What matters is that Bitcoin continues to provide resistance to confiscation and censorship, while its liquidity continues to increase and has no correlation with other assets. This is a true safe haven asset.