Traders are piling into bitcoin as a haven amid volatile markets. This researcher warns they could get burned.

Bitcoin isn't a "unique" hedge as it's vulnerable to the same market risks as conventional investments, according to a new study.
It becomes more exposed to factors such as inflation expectations when its price is less volatile, the researcher found.
The findings are a "cautionary note" for investors, writes author Dimitrios Koutmos, as they suggest bitcoin isn't "a unique asset class whose price behavior is detached from economic fundamentals."
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