Bitcoin’s Identity Crisis: Digital Gold or Just a High-Risk Rollercoaster? 🤔
$BTC just gave everyone another heart attack — it crashed hard down to $60,000, then quickly bounced back above $70,000. This wild swing has people asking the same old question again: Is Bitcoin really a long-term store of value like gold, or is it just another risky asset that crashes whenever the stock market gets scared?
Elbert Iswara explained it pretty well on Money FM:
1 The drop looked scary, but it was mostly a liquidity reset — not the end of the bull run. Big buyers (institutions and long-term holders) stepped in and supported the price.
2 The real driver is macro conditions (interest rates, liquidity, risk-off mood). Crypto just makes everything move faster and more violently because of leverage and ETF flows.
3 Right now, Bitcoin is acting like a high-beta risk asset (it falls harder than stocks when fear hits). But that doesn’t kill the long-term “store of value” story — it just means it’s a hybrid asset. It behaves differently depending on the economic environment.
I think Elbert nailed it. Bitcoin is not a reliable hedge yet when shit hits the fan — it’s too emotional and leveraged for that. In scary times, it still trades like a tech stock on steroids.
But calling it “just another risk asset” is also too simplistic. The fact that it keeps finding strong support at these levels and institutions keep buying on dips shows the long-term narrative is still alive. Adoption is growing, ETFs are here to stay, and the halving + potential rate cuts later this year could easily reignite the fire.
Bottom line: Treat it as a high-risk, high-reward macro play in the short term. If you have strong hands and believe in the bigger picture, this volatility is just noise. If you’re easily shaken — size down or stay away.
What do you think — are you still bullish on Bitcoin long-term?
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