Bitcoin and the rest of the cryptocurrency market has been collapsing alongside traditional equities, precious metals, and the rest of the financial world as a liquidity crisis unfolds.
Fears over the coronavirus has investors preparing for the worst, cashing out assets at a rapid rate, and driving down prices of most assets to prices not seen since 2016. Bitcoin, however, has held strong by comparison, trading at prices still well above its 2018 bottom.
Traditional Asset Markets Get Slammed Amidst Liquidity Crisis and Pandemic Outbreak
Catastrophe has hit markets over the last few weeks, as the coronavirus has reached pandemic proportions and cases continue to climb globally.
As investors brace for a potential recession, and one unlike the world has ever witnessed in the past, assets are being cashed out in a panic.
Related Reading | No Haven Safe: Silver, Gold and Other Precious Metals Nosedive Alongside Bitcoin
The sudden surge in panic-selling is driving prices of most assets down to levels not traded at since 2016.
Across the stock market, major indexes like the Dow Jones Industrial Average, S&P 500, and Japan’s Nikkei 225 have fallen by a large margin to prices of late 2016.
In the typically stable precious metals market, silver fell to levels dating back to the last recession, and platinum fell to the lowest price in decades.
Gold, meanwhile, has remained relatively strong proving its value as a safe haven asset.
Bitcoin Holds Strong, While Other Assets Collapse to 2016 Prices
However, even gold suffered extreme losses over the last few weeks. The same performance occurred during the start of the last recession, but later gold not only held its value but began to climb as inflation took hold across the globe.
Bitcoin often called the digital counterpart to gold, shares many similarities with the precious metal, such as a limited supply.
It’s been said that due to this attribute, Bitcoin could behave similarly to gold in the face of a recession. The only problem is, Bitcoin has yet to actually face a recession.
The only ten-year-old asset, however, is already showing much resiliency while other assets tumble. While most of the financial world has been set back to 2016 or even earlier, Bitcoin has thus far held strong above its 2018 “bottom” at $3,200.
All other assets returned to 2016 prices. btc is very bullish
— loganhan_ (BTC above 100,000usd 2020 4Q) (@loganhan_) March 18, 2020
The asset is still trading well above the 2018 close and 2019 yearly open, and inflation hasn’t even begun to take shape in the current recession that’s only just getting underway.
Related Reading | Will Bitcoin’s True Value Proposition Shine During End of Times Scenario?
Governments are preparing much-needed stimulus packages and corporate bailouts that will devalue fiat currencies, potentially allowing Bitcoin’s true value proposition to shine through.
The fact that Bitcoin is holding this strong, gives the cryptocurrency more validity as a potential safe-haven asset, and a possible light in the coming darkness. origin »
Today, the prices of assets are based on speculation and have no relation to their underlying value. This has led to a volatile and unpredictable market where prices can drop suddenly and unexpectedly.
Mathew McDermott, head of digital assets at the bank, said clients are eager to trade crypto assets at current prices, which are currently at a “more palatable entry point” following the “cleansing exercise” in terms of leverage reduction.
Cryptocurrency prices have slid across the board today, but the market always holds surprises. One leading altcoin in particular has managed to avoid the crash unscathed. Market Downturn Erased 25% Off Altcoins in a Week ChainLink (LINK) not only remained one of the few assets in the green, but actually continued on a small hike as other assets still sank lower.
Over the past two days, the crypto market hasn’t fared too well. After peaking last week, the prices of digital assets across the board have tanked. XRP, the third-largest cryptocurrency by market capitalization, tanked from the multi-month high just a smidgen above $0.
When Bitcoin (BTC) drops, other cryptocurrencies drop even more. But some assets erased more value, showing their relatively fragile market gains. BTC Crash Triggered Downward Spiral for Altcoins On Thursday, BTC prices flash-crashed by about 7%.
On Tuesday, the crypto market mounted a strong recovery, with the prices of Bitcoin, Ethereum (ETH), and other digital assets strongly bouncing off the weekend lows. At Tuesday’s local peak, BTC was trading 8.
Notable cryptocurrency observers claim that the Bitcoin market is still in disbelief at the current price rally. This, for them, is a sign that prices of crypto assets will head a lot higher during this market cycle.
Over the past day or two, the crypto market — from Bitcoin to Ripple’s XRP — has begun to slow. The prices of the leading digital assets have finally taken a breather after days and days of uptrend without too much of retracement.
The coronavirus outbreak in China could curb flows into crypto assets from investors and dampen the recent rally in the global market, industry pros say.
Treasury yields remain attractive to investors, as the fear of inflated stock prices boosted demand for traditional haven assets.
The post Treasury Yields Hover Near 6-Week Low as Key Indicator Foretells Devastating Stock Market Correction appeared first on CCN.com
Digital currency markets are seeing significant gains this week as the entire market capitalization gained $28 billion in the last seven days. Moreover, trade volume has spiked to a massive $100 billion and during the last 24 hours, numerous digital assets have gained between 3-48%.
Bitcoin is often called ‘digital gold,’ which led many to assume that the two assets are correlated in some way, but recent research has debunked such theories. Whenever someone starts researching the cryptocurrency space at all, it does not take long before they run into the phrase ‘digital gold.
The term digital gold was coined a few years ago to describe Bitcoin, but it has only really become pertinent this year following a strong price correlation with the precious yellow commodity. Recent events have strongly highlighted this correlation as BTC prices have moved in tandem with other traditional store-of-value assets.
It does not take much to instigate a tweet war among the crypto community these days. Token prices are rock bottom and many of the top assets, including Ripple’s XRP, just keep dumping. Ripple Moves Another $200 Million San Francisco based fintech firm Ripple started off the year with another questionable token movement.
Even though there is no living man that can claim he is good at predicting anything, let alone prices of novel financial assets like digital currencies, we have decided to jot down our opinions on the future of the biggest cryptocurrencies on the market.
Digital currency prices plummeted on Tuesday, as cryptocurrency markets lost billions during the morning trading sessions, New York time. BTC dropped well below the $7k range and other digital assets followed BTC’s path with sharp losses.
The cryptocurrency known as XRP, also called Ripple, has been among the worst performing crypto assets throughout the year of 2019. While many crypto investors are expecting the massively oversold asset that’s long been in a downtrend to finally reverse and return to former high prices, one crypto analyst believes that Ripple’s distribution is almost.
Digital currency prices have slumped again as the entire crypto market capitalization has dropped below $200 billion. At press time, most of the top digital assets are down a few percentages after gathering some gains over the last few days.
As far as prices are concerned, 2019’s cryptocurrency markets fared much better than the year prior. Currently, the entire market capitalization of all digital assets is hovering just above the $200 billion mark.
Altcoins like Ripple, Stellar, Tron, and Cardano are all among the worst-performing major crypto assets year-to-date, during a year when the rest of the crypto market including Bitcoin made up for lost ground.
Following Bitcoin’s meteoric rise in 2017, retail investors searching for the next Bitcoin loaded up on altcoins and other crypto assets hoping to get in early and strike it rich. But the bubble popped, and now altcoins are down in some cases as much as 99% from their all-time high prices set back during the.
China’s CCTV1, a state-backed social media, ran another story on crypto assets, featuring a 60-minutes exposition with President Xi. But this time, the message was not as enthusiastic as in the past.
Ethereum is among the crypto assets still vastly below its former all-time price, with a long way to go before it recovers the lofty prices set back at the height of the crypto hype bubble. According to one crypto trader, Ethereum’s downfall may not be complete, and if the current monthly candle cannot close above.
Gold price suffers worst weekly drop in three years as investors tilt toward risk-on assets. December gold futures are hovering around $1,465/oz, the lowest in over three months. Despite the fall, the Federal Reserve’s ‘war on savings’ will keep gold prices trekking higher over the long haul.
Trade tensions between the US and China appear to be easing as the two powerhouses come to agreement. The lifting of tariffs is good for economic stimulus but safe have assets such as gold are now starting to cool off, will Bitcoin follow suit? US China Trade War Over? Officials from both sides stated yesterday.
Investors’ zeal for cryptocurrency seems to have returned, at least for now. Although most digital assets saw their individual market capitalization dramatically rise at the end of this past week, NEO is continuing to perform particularly well.
The XRP digital coin, distributed far and wide by Ripple, Inc. , is among the most talked-about assets on social media. But despite the highly active community, and the millions of coins given away, XRP is stuck beneath $0.
After sitting around $257 billion, the cryptocurrency market lost $35 billion in less than 30 minutes on September 24. Since then, many digital assets have found new support, but bears have started to claw away at these areas.
U. S. government debt yields fell on Friday, as bond prices rose following news of China’s weakest quarter of economic expansion in three decades. Treasury Yields Fall The yield curve declined at week’s end, reflecting growing appetite for U.
More than 11m crypto traders are now able to make decisions based on sentiment, one of the key drivers of crypto prices. Social trading platform eToro and sentiment analytics provider TheTIE have partnered to provide actionable information on what the crowd thinks about digital assets.
Digital currency markets have started to show strong signs of recovery after dropping to new lows last week. On Monday, a number of cryptocurrencies gained between 2-5% over the course of the day.
Of course, nobody can attend them all, so we’ve profiled five crypto and blockchain conferences that you should keep on your radar. Pick your favorite, and consider making an appearance at your favorite event.
2019 has been a big year for cryptocurrencies and blockchain technology. The prices of digital assets have improved considerably, and blockchain platforms are further down the road to broad adoption at the enterprise level.
The prices of digital coins that offer Masternode staking have suffered in 2019, crashing additionally despite the incentive to hold onto the assets. The market prices have also sunk against Bitcoin (BTC).
Over the past 24 hours, Bitcoin [BTC] witnessed a minor hike of 1. 02 percent but the rest of the alts collectively declined. The prices were going down according to coinmarketcap. com and the trend appeared bearish for the other assets.
The world’s largest crypto exchange will be opening its US platform across most of the country next week. It has announced the listing of six crypto assets for trading but conspicuously missing from that list is its own Binance Coin.
Mobile phones play a crucial role in the lives of cryptocurrency users. A lot of people either check prices or store their assets on a mobile device. Owners of the Samsung Galaxy S10 will be rather pleased with the most recent software update.
With political and economic tensions escalating, investments in safe haven assets such as gold are on the rise. The commodity has often been compared to Bitcoin, but a recent outbreak of fake bars clearly illustrates the glaring differences in the two asset classes.
Cryptocurrencies aren’t just a niche investment category anymore. In the latter half of 2019, digital assets have managed to sit beside stocks, bonds, commodities, and other investment instruments as an important part of a holistic investment portfolio.
Cryptocurrency markets fell hard on August 21 following the $700 price drop bitcoin core (BTC) saw during the early morning trading sessions. Most digital assets have lost 2-8% in value as the overall market valuation of all 2,000+ coins has plunged to $263 billion.
Bitcoin has often been compared with gold as it shares a number of similar traits. Both are safe haven assets, immune from government meddling, and both have a strong perception of scarcity. One veteran investor sees a strong demand for bitcoin and crypto assets as a bullish indicator for gold prices.
Today, the cryptocurrency market is exhibiting some good moments, which can be attributed to the sharp recovery of most cryptocurrencies within the past 24 hours. However, this was not the case a couple of days ago judging from charts.
Tom Lee, one of the senior analysts of Fundstrat Global Advisors, has recently affirmed that Bitcoin is the “genuine safe haven” asset during a recent interview for Fox Business. According to him, whenever there is political turmoil, crypto prices tend to go up a lot.
On August 14, a major transaction in the XRP cryptocurrency was recorded. An unknown user transferred 20 million tokens ($5. 3 million) from Nexo to Kraken exchange. Typically, such transactions indicate that the whales plan to dump the rate of crypto assets.
A new online pool made by the ING Bank has recently revealed that Austrians are the people who are most skeptical about cryptos, including Bitcoin. According to the new poll, which interviewed people from 15 countries, BTC positivity is actually going down recently, despite the prices going up. According to the findings, only 13% of […]
The crypto space is on the sensitive ground at the moment. This is because more people are looking into how the relationship between paper assets and crypto-assets is going to work in the future.
The Dow and broader U. S. stock market plunged anew on Monday, as threats to global economic health fueled a massive rally in haven assets like Treasuries and gold bullion. According to Goldman Sachs, bullion prices are heading higher over the next six months as U.
After its introduction in 2013, Grayscale Bitcoin Trust (GBTC) managed to become one of the largest Bitcoin investment products in the world. So far, GBTC has outperformed most traditional assets year to date, in line with BTC’s rising prices, and became one of the most actively traded securities on the OTC Markets Group.
In a single day, $1. 05 trillion was wiped out of the US stock market. This decline represents one of the largest of any single day in recent times and also reflects a mix of unsatisfactory economic data and huge struggles among major companies.
GameStop stock (NYSE:GME) price drop has had a profound impact on the meme coins, leading to widespread declines in meme coin prices. While GameStop Corp. is a renown American video game, consumer electronics, and gaming merchandise retailer, its stock among the meme stocks which is the reason as to why its price movement correlate with […]
Ronin, an EVM blockchain specifically designed for gaming, is the brainchild of Sky Mavis, the creators of the popular Web3 title, Axie Infinity. This game alone has generated over $1. 3 billion in revenue.
Coinspeaker
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Despite the raging impact of inflation in different economies, monetary authorities have not been sitting on their oars, rather, they have been fighting the surge through consistent interest rate hikes.
Bitcoin over the years has shown an increasingly strong positive correlation with the S&P 500 and other major US stock market indexes. When the correlation weakens and turns negative, price movements in BTC can be especially substantial.
