In the early summer of 2021, it was a popular idea that Bitcoin (CRYPTO: BTC) may be a safe-haven asset, hypothetically independent of traditional markets. It was generally believed positive movements toward regulation helped perceptions by institutional investors and that that new stream of investment — along with stimulus-powered retail buyers — put the motive force behind the rising prices.
But have these assumptions espoused by investors, analysts, and pundits stood the test of time, now that Bitcoin has tumbled from its high of more than $68,000 in November 2021 to just under $29,000 at the time of writing?
