Topic: [2020-03-02] Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed (Read 163 times)
March 30, 2020, 07:57:05 AM
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March 03, 2020, 02:09:10 PM
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Since when was the 4% rise an important event linked to some economic impacts, Fed statements or even a pandemic?
Do not forget that the price was around 10,000 dollars a few weeks ago and that the recent declines need corrections before settling into certain levels.
Currently the price is falling to $ 8700, which indicates that we were unable to break the $ 9000 barrier. The continuation of the price at these levels for a longer period means that the price will return to $ 7000 levels soon.
Since when was the 4% rise an important event linked to some economic impacts, Fed statements or even a pandemic?
Do not forget that the price was around 10,000 dollars a few weeks ago and that the recent declines need corrections before settling into certain levels.
Currently the price is falling to $ 8700, which indicates that we were unable to break the $ 9000 barrier. The continuation of the price at these levels for a longer period means that the price will return to $ 7000 levels soon.
March 02, 2020, 11:53:01 PM
Bitcoin's (BTC) price jumped the most in two weeks Monday, surging alongside U.S. stocks amid speculation the Federal Reserve and other central banks will support markets as the coronavirus spreads.
The largest cryptocurrency by market value rose 4.1 percent to $8,874 as of 17:53 UTC (12:53 p.m. ET). The move followed last week’s 14 percent sell-off, the harshest in three months.
Despite a belief among some investors that bitcoin should trade as a safe-haven asset akin to gold or U.S. Treasury bonds, the cryptocurrency had tumbled recently along with riskier assets like stocks. The sell-off reversed as global authorities, including the Fed, Bank of Japan, International Monetary Fund and World Bank, pledged to act if needed to help offset any lasting economic damage from widespread travel cancellations, quarantines and factory disruptions.
“Investors are dipping their toes back in the water after last week [when] they jumped out of the pool,” said John Todaro, director of currency research at the crypto-focused firm TradeBlock in New York. “This easy monetary policy across central banks should continue to support markets in general, especially in risk-on areas like equity markets, and that should bleed into other asset classes like digital currencies, including bitcoin.”
Fed Chair Jerome Powell said Friday in a statement the central bank would “use our tools and act as appropriate to support the economy.”
https://www.coindesk.com/bitcoin-rebounds-as-coronavirus-infected-stocks-get-jolt-from-fed-boj
The largest cryptocurrency by market value rose 4.1 percent to $8,874 as of 17:53 UTC (12:53 p.m. ET). The move followed last week’s 14 percent sell-off, the harshest in three months.
Despite a belief among some investors that bitcoin should trade as a safe-haven asset akin to gold or U.S. Treasury bonds, the cryptocurrency had tumbled recently along with riskier assets like stocks. The sell-off reversed as global authorities, including the Fed, Bank of Japan, International Monetary Fund and World Bank, pledged to act if needed to help offset any lasting economic damage from widespread travel cancellations, quarantines and factory disruptions.
“Investors are dipping their toes back in the water after last week [when] they jumped out of the pool,” said John Todaro, director of currency research at the crypto-focused firm TradeBlock in New York. “This easy monetary policy across central banks should continue to support markets in general, especially in risk-on areas like equity markets, and that should bleed into other asset classes like digital currencies, including bitcoin.”
Fed Chair Jerome Powell said Friday in a statement the central bank would “use our tools and act as appropriate to support the economy.”
https://www.coindesk.com/bitcoin-rebounds-as-coronavirus-infected-stocks-get-jolt-from-fed-boj
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