Global financial markets tumble after Ukraine attack as Bitcoin rebounds to 38K

While it is true that the turbulent geopolitical scenario has created diplomatic tensions, it is also true that in such a chaotic context, investors seek assets with stable value to protect themselves from the potential impacts of the war on all economic and financial structures.

Now, taking into account that investors are looking for assets that have stable value, is Bitcoin a stable safe haven asset, my perception is that compared to other assets such as Gold, Bitcoin still lacks maturity as a safe haven asset.

From my point of view, I do not believe that Bitcoin will be the protagonist asset in the current war conflicts occurring between Russia and Ukraine, but that it will inevitably drag other states with economic and military power to these war scenes, which will inevitably negatively impact all economic and financial structures on a global scale.

It is worth noting that after the first military events between Russia and Ukraine, the price of Bitcoin and the main cryptocurrencies by market capitalization fell in the following period, suggesting that investors are probably not looking for a safe haven in Bitcoin, much less in any other cryptocurrency.

However, a surprising behavior is the recent rebound of the Bitcoin price action to 38,904.95 dollars despite the current turbulent geopolitical context, considering that in less than 3 hours the Bitcoin reversed its decline to 34,556.64 dollars and presented an estimated rebound of 8% and approached the resistance of 40,000 dollars.

Contrary to this behavior shown by the Bitcoin in the last hours, the world financial markets plummeted, i.e., they currently present a situation opposite to the Bitcoin, for example, gold is still in a depreciation zone, so the question is: In the current war scenario, can the Bitcoin become a stable value refuge asset? I would like to know your impressions on the matter.