Is Crypto a Safe-Haven? It is if You're Very Wealthy

Bitcoin lost around 50% of its value in two days in early March, according to data provided by major cryptocurrency exchanges. Over the same span, the major stock markets posted losses that were around 10%. Small-time investors who rushed to cash in their crypto-assets as the pandemic took hold. Big investors moved in to buy low from nervous small-timers who feared for the economic damage to come. The rich got richer as the gains of the recovery didn't end up in the same pockets that the losses came from.