Nansen analyst: Bitcoin is a "safe haven asset" in the context of global economic recession

BlockBeats news, August 8, according to TheBlock, Nansen chief analyst Aurelie Barthere said, "Bitcoin can act as a "safe haven asset" during a recession and will outperform other tokens in the crypto market. The inflation outlook has improved this year, but economic growth forecasts remain "tepid," and central banks are "taking action to stimulate the economy to avoid further declines." A large amount of speculative-grade debt in the United States will mature in 2024, coupled with falling bond yields, the financial environment is under pressure. Investors turning to safer assets and falling yields are typical recession indicators, reflecting a lack of confidence in continued economic growth, and the probability of a recession in the second half of 2024 is expected to be 40%. "

Aurelie Barthere said that since the energy shock brought about by the Ukrainian war and the assumed tariff increase by the United States, economic growth in the eurozone has been weak, and U.S. growth is also slowing as valuations rise. “I can see a scenario where a correction in equities and risk assets is enough to tighten financial conditions and trigger an economic contraction. Bitcoin could benefit as a safe haven asset, with investors often flocking to assets seen as a store of value during times of economic uncertainty.”