Vaccine News Strikes Blow to Safe Haven Assets; Potentially Impacting Bitcoin
The global stock markets are rocketing today on news that a vaccine that would put an end to the ongoing pandemic has 90% effectiveness This news signals that it may only be a matter of months before things start going back to normal, which means a reduction in government spending and economic turbulence Naturally, this is a bad thing for safe haven assets, with today’s news sending the price of gold nosediving Bitcoin has seen […]
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Bitcoin has seen heightened volatility this morning, likely due to that seen within the global markets. Stocks are rallying today, while precious metals and so-called “safe haven assets” all plunge due to positive vaccine news. Pfizer reported that their vaccine has shown to have 90% efficacy in a large trial, which far exceeded that market’s […]
Bitcoin has been trading in close tandem with equities throughout the past several days Heightened correlation to risk-on assets is a common BTC trait during times of immense global turbulence Although this strikes a blow to its safe-haven narrative, the cryptocurrency still has a long way to go before it fully decouples with the traditional markets This global economic turbulence that is weighing on Bitcoin may only get worse as the year drags on and […]
While the economy has been on thin ice, no asset has benefitted more from the post-pandemic “new normal” than Bitcoin. Fear of the uncertainty has caused demand to rise in the insurance policy against the unknown. But as news of a vaccine being 90% effective broke today, so potentially did Bitcoin’s uptrend. Here’s how the […]
There has been a lot of talk about investors looking to Bitcoin as a safe haven for their investment portfolio. Safe haven markets are very small and hard to get into. Bitcoin may not fit that bill as perfectly as some people think it does. Now that the Brexit doom scenario has happened, there is a lot of uncertainty across the markets. Gold is surging,....
Following highly volatile Bitcoin price action in the aftermath of its vaccine-induced drop, crypto traders explain where BTC is headed next. The price of Bitcoin (BTC) has seen extreme volatility in the past 24 hours. After the Dow Jones Industrial Average abruptly rose by more than 800 points, BTC plunged in tandem with gold. Within five hours of achieving a four-day peak at $15,840, the dominant cryptocurrency abruptly plummeted 6.5%. Following the correction of BTC, analysts and traders remain divided on its near-future prospects.The short-term pullback of Bitcoin, which happened....