The World Health Organization has issued a terrifying warning that the “worst” of the pandemic “has yet to come.” The first wave brought record devastation to Bitcoin and the stock market, and investors now fear another crash.
If the worst has yet to come for the outbreak itself, could the market experience an even steeper selloff alongside the resurgence of cases globally?
World Health Organization Warns of Pandemic Spreading, Worst Is Yet To Come
Six months have passed since the pandemic first emerged, and life is still not back to normal. Nor have markets fully recovered from the selloff called Black Thursday in hindsight.
As the world learned of the coming quarantine and health care scare, panic spread across markets and caused a collapse.
The stock market went from setting an all-time high the month prior to the worst quarterly close on record. Bitcoin and other cryptocurrencies fell by 50% or more in 48 hours.
Chaos was everywhere, and it was just the start.
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Over time, stimulus money offered by the Federal Reserve and other global governments helped save economies from disaster. However, these efforts may not be enough to combat another wave of the virus.
The pandemic isn’t going away. And even six months in, the World Health Organization chief isn’t optimistic things will improve before they worsen.
“Although many countries have made some progress globally, the pandemic is speeding up,” WHO head Tedros Adhanom Ghebreyesus said at a briefing in Geneva, Switzerland.
“The worst is yet to come. I’m sorry to say that,” Tedros added.
His comments come as the pandemic reaches over 10 million confirmed infections and over 500,000 deaths. How could it possibly get worse?
Bitcoin Bull Run To See Further Delay If Another Wave Of Selling Hits The Stock Market
Cases spiraling out of control again in some parts of the United States during the initial stages of reopening isn’t promising. A return to even stricter lockdown conditions could be demoralizing for the public that has already gone through so much.
Another wave of panic could be devastating for markets as well. The stock market’s V-shaped recovery could be in jeopardy. Another crash could make the structure form a W rather than a V-shape.
RELATED READING | WELLS FARGO WARNS OF STOCK SHOCK FROM BIDEN WIN, HOW WOULD BITCOIN BEHAVE?
In Bitcoin, the bull run everyone is waiting for could be delayed further.
According to a new tool developed by an industry expert, Bitcoin was prepped and ready for a new bull run in early 2020. But the Black Thursday crash caused by the initial reaction to the outbreak and quarantine stopped it in its tracks.
This is a new model I'm working on, it picks the start of exponential bull runs.
1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.
2) This model suggests we are close to another bullish run. Maybe another month to go. pic.twitter.com/wmoEdMVywF
— Willy Woo (@woonomic) June 27, 2020
It could take another month or more for the asset to be ready again. During that time, the broader financial market could collapse under the weight of more fear and uncertainty.
If stocks fall due to another wave of pandemic panic, Bitcoin’s bull run will have to wait a while longer as well.
Featured image from Shutterstock. origin »
We have all heard the warning, ‘past performance is not a guarantee of future results. ’ However, this warning is hard to ignore when an asset like Bitcoin has generated profits across more than 94% of its lifetime.
The recent cryptocurrency market decline has left many from the crypto community shocked, arriving seemingly without warning. Now experts are trying to solve the puzzle of why it happened, but not everyone agrees on just what might have caused it.
In a chilling but sadly all-too-familiar sequence of events, UK banks have been targeting cryptocurrency owners. Individuals who have cashed out large amounts of cryptocurrency – legitimately – have had their assets frozen and accounts locked without warning, fueled by fears of money laundering and a general distrust of bitcoin.
As the cryptocurrency markets suffer from what appears to be a prolonged bear market, investors are looking towards long-term prospects that could aid the price. However the CEO of Coinbase has a warning for anyone getting too excited about widespread Bitcoin adoption in the near future.
Bitcoin – the world’s largest cryptocurrency by market cap – is now trading for just shy of $6,400 at press time. This is a little over $100 less than where it stood 24 hours ago. Bitcoin is likely scaling back a bit following some harsh comments from Coinbase CEO Brian Armstrong. As the head of […]
The KuCoin cryptocurrency exchange platform was accused of fraudulent activities by a user and cryptocurrency enthusiast after a failed attempt to find KuCoin’s registered office address in Hong Kong.
Despite the country’s proactive and seemingly positive approach towards blockchain-based technologies, cryptocurrency trading remains heavily outlawed, officials reiterate. Bitcoin and Other Cryptocurrencies Are Illegal A standing committee, headed by the Capital Market Authority in Saudi Arabia and including representatives of the Ministry of Trade and Investment, the Ministry of Information, and the Saudi Arabian Monetary Agency, issued a formal statement, reaffirming the illegality of trading with Bitcoin and other cryptocurrencies.
The UK Financial Conduct Authority (FCA) have issued a warning to Bitcoin and cryptocurrency investors in the UK with regards to a rogue trading platform that has been established by the name of ‘Fair Oaks Crypto’.
An upcoming security tool called White Rabbit will utilize machine learning in tandem with a dataset of Bitcoin addresses in order to prevent cybercrime. The platform will detect and predict which addresses are involved in illegal activity and will act as an “early warning system” that detects ransomware campaigns. This is how it works: White […]
According to News. com. au, Robert Kiyosaki, the author of the famous best-seller ‘Rich Dad, Poor Dad,’ is warning the public that the next economic crash to come will be catastrophic and damaging to the economy.
An upcoming security tool called White Rabbit will utilize machine learning in tandem with a dataset of Bitcoin addresses in order to prevent cybercrime. The platform will detect and predict which addresses are involved in illegal activity and will act as an “early warning system” that detects ransomware campaigns.
Capital gains on crypto transactions are easy to track, one at a time. What about when there are thousands?Cryptocurrency capital gains taxes are becoming a point of interest for governments.
After Apple did a similar thing, Google have decided to update their Play Store policies which has resulted in banning apps which mine cryptocurrencies like Bitcoin, XRP, and Ethereum.
This move comes a few weeks after Apple introduced their own changes to the polices to the App Store Review Guidelines with a new section regarding the restriction of cryptocurrency mining apps.
After a warning from European law enforcement agency Europol earlier this year that billions of pounds are being laundered through cryptocurrencies, City of London officials have decided to take matters into their own hands.
After a cold start into 2018, bitcoin traders and holders witnessed an upward turn of the world’s first and largest cryptocurrency. Facing regulatory issues from across the globe Bitcoin is yet to become a part of the mainstream economics.
Jerome Powell Claims Bitcoin is Not a Real Currency and Has No Intrinsic Value The head of the United States Federal Reserve issued a warning to Congress earlier today regarding cryptocurrencies. Federal Reserve chair Jerome Powell, who took the position in February, said on Capitol Hill that bitcoin and other cryptocurrencies are dangerous to “unsophisticated […]
Ethereum traders were feeling the pressure July 18 after average transaction fees on its network surpassed Bitcoin’s for the first time in history. Ethereum ‘Benefited From Irrational Exuberance’ Data from monitoring resource Coin Metrics uploaded to Twitter Monday confirmed the unexpected reversal of fees, which compound an apparent lack of confidence in Ethereum’s outlook this week.
A worrying report was published yesterday in the online academic journal, The Conversation, warning that in the future, quantum computers might become capable of cracking cryptocurrency wallets’ private keys—giving potential hackers access to crypto users’ stored digital currencies.
A worrying report was published yesterday in the online academic journal, The Conversation, warning that in the future, quantum computers might become capable of cracking cryptocurrency wallets’ private keys—giving potential hackers access to crypto users’ stored digital currencies.
Rep. Emanuel Cleaver, a Congressman representing Missouri’s fifth District recently said that “the crypto industry need to step their game up. ” The statement was made on his Twitter handle proceeding the news that Bitcoin [BTC] was used to pay for servers to tamper the U.
CTO of CoinBase, Balaji S. Srinivasan, and co-founder of Counsyl, as well as Teleport, Earn and CoinCenter released a tweet on his response to the Bank of International Settlements’ extreme warnings on cryptocurrency trading, even stating that digital commerce will bring the internet crashing to a halt. He responded to the group’s tweet warning, saying, […]
Coinbase continues to grow with their new high-end investment product Coinbase Custody, while Binance had to run a system update following some issues with its Syscoin wallet API.
A few warning signals and conflicted statements later, the RBI finally pulled the plug on cryptocurrency exchanges. On July 06, a near-complete crackdown—at least temporarily—on cryptocurrencies will take hold in India.
In a letter dated June 28, Sam Woods, deputy governor at the Bank of England who is also the CEO of the Prudential Regulation Authority (PRA), the UK’s financial watchdog, provided a reminder to financial firms of their “relevant obligations under PRA rules, and to communicate the PRA’s expectations regarding firms’ exposure to crypto-assets.
Looking for someone to play the bearish case in regards to Bitcoin and other cryptocurrencies? Look no further than the Head of Investment Strategy at Barclays Smart Investor, Will Hobbs — who claims “the rout in cryptocurrencies is still not finished.
The Financial Conduct Authority of the U. K. has warned traders against an unregulated firm called Cryptorobot365. The regulatory body blacklisted the firm for providing cryptocurrency investment services in the country without authorization from the agency.
Long term, prices could then fall much further towards the bottom end of Bitcoin’s multi-year upward trend channel, which began in 2016. Such behavior would mimic Bitcoin in 2014, Fundstrat says — echoing similar conclusions made last week from cryptocurrency trading analyst Tone Vays. $ 25k Still In Play For Lee Since publishing the warning,
]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how cryptocurrencies work.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.
