In this edition of News Fast, we’ll show you how Bitcoin recovers in spite of the Coronavirus. Because, after a few tough weeks, the criptomoneda shows that you can cope with the effects of the pandemic.
CEO of Binance says that Bitcoin is not destroyed by the Coronavirus
The pandemic Coronavirus was only the spark that lit the worldwide economic collapse current, not the cause of Bitcoin to fall, says the CEO of Binance. In a publication on her blog on march 20, Changpeng Zhao, known as “CZ” in the circles of cryptocurrencies, argued that the Coronavirus had shown that the world economy is too weak. At the publication gave some insights about the downfall of the global markets and Bitcoin, after holding a few interviews with different media. In one of them the following stands out: “In 2008, there was a pandemic that stopped the global economy. But I think that the Coronavirus is only a trigger, not a root cause. Our economy should be stronger, at least strong enough to survive some crashes”. Zhao was speaking while Bitcoin is desacoplaba becoming more and more of the misery faced by the traditional markets. After a fall daily historical last week, in line with the stock indexes, this week there was a surprising recovery which in a moment arrived at 90%. Which shows that, effectively, Bitcoin recovers in spite of the Coronavirus, unlike what happens with traditional markets.
Manager Crypto Fund says that Bitcoin is an insurance against hurricanes
Travis Kling, chief investment officer of the investment firm in cryptocurrencies Ikigai Asset Management, described Bitcoin (BTC) as an insurance against hurricanes in the fiscal policy of the united States. The march 20, Kling tweeted that a hurricane that is approaching soon will hit the economy of the united States and will “cause a lot of damage”. However, all is not lost, with Kling, reporting that the recent collapse in the market for encryption has made the insurance of hurricane, half price is available to all: “you can Still buy insurance against hurricanes. The people went into panic selling of the insurance policy because they wanted cash. Now is half price from a month ago despite the fact that the hurricane is clearly here now.”
A hurricane is hitting. Sti clear the hurricane will do a lot of damage.You can still buy hurricane insurance.People panic sold the insurance policy bc they wanted cash. Now sti half priced from a month ago even though the hurricane is clearly here now.That’s #Bitcoin.— Travis Kling (@Travis_Kling) March 20, 2020
Bitcoin fell below $6,000
BTC fell below $6,000 the 21 of march, as a rebound in end-of-week to near $7,000 seemed to stop. Currently the criptomoneda is trading above $6,000. The recovery of Bitcoin was miraculous: since I reached the minimum of 15 months of $3.700 last week, the criptomoneda at a point sealed a profit of 90%. However, as the traditional markets continue to struggle with the crisis of the COVID-19, the cryptocurrencies are experiencing an increase in both the price and the volume. What explains the recovery of Bitcoin despite the Coronavirus.
EY Japan announced plans for the launch of a Blockchain
HEY Japan, the branch of japanese firm global accountancy Ernst & Young, has announced plans to launch a system Blockchain to track the sake and the fruit of japanese, and to prevent the sale of fraudulent products or counterfeit. According to the Asian Nikkei Review, SAKE Blockchain of EY Japan will be implemented in Asia once you have restored the threat of the Coronavirus and a commercial environment stable in the region. According to reports, the company believes Hong Kong and Singapore as the major markets that are also open to the technologies of accounting distributed.