Bitcoin isn’t looking like much of a safe haven now

HONG KONG: Bitcoin is proving to be no haven asset amid the current global market meltdown.

The largest digital currency continued to plummet in Asia Friday as a rout that began in earnest overnight in New York showed no signs of slowing down. Bitcoin dropped as much as 32% to $3,915, its weakest since March 2019, according to consolidated pricing compiled by Bloomberg. Its 50% drop over the past two days is among the biggest ever.