Recently, we invited Hong Kong crypto industry players from AAX, MyEthShop, and Genesis Block to participate in a webinar focused on Bitcoin’s long-held status as a safe haven asset and whether or not that still holds up. We’d also like to take this opportunity to thank Blockchain News for being the official event partner for the webinar.
This has been a topic of great interest, and that’s certainly been reflected in our event’s success, with more than 50 attendees dropping in to listen to our panellists explain their viewpoints!
Hosted on Remo, here is a summary of some of the questions discussed during the webinar.
Our panellists generally thought that recent events with COVID-19 are considered unprecedented, with every asset across the board reeling from the impact of the coronavirus outbreak. If the drastic drop in Bitcoin’s price means that it can no longer be considered as a safe haven asset, then other safe-haven assets such as gold will also have to be re-evaluated, as their prices have similarly taken a hit alongside the stock market.
Bitcoin and general cryptocurrencies also recovered rather well after the crash; so in summary, while crypto may not be as pandemic-proof as most of us believed, it may still be an asset class worth investing in regardless of external events and market movements. However, it is best to truly research and understand the underlying technology of blockchain before jumping into the space. Please don’t succumb to FOMO (Fear of Missing Out)!
Across the board lingered a sense of cautious optimism, and we can’t help but agree. While our panellists anticipated the halving to draw an increase in token prices, they expected the impact of the halving to not be as drastic this time around.
From the current state of the global economy, tighter modern-day regulations keeping ICOs and STOs in check, and investors still having the 2017 ICO bubble fresh on their minds, our panellists generally thought that it was unlikely that the market will return to previous highs.
Panellists viewed exchange tokens as attractive due to their utility (e.g. discounts on trading fees). They also favoured asset-backed projects such as stable coins pegged currencies or gold. DeFi (Decentralized Finance) is also a recently growing topic of interest and seems to hold much development potential.
However, blockchain technology and this ecosystem, in general, is still in its infancy stages, and we are all very excited to see where it leads.
Want to collaborate for our next webinar? We’re all ears!
Whether it’s a topic you want to present, or you want to join as a panellist, we are always excited to connect and share ideas with more people in the crypto space. Contact us here to touch base with us today!