That was fast! In just an hour, increased the bitcoinkoers by 11% to 6.600 dollars. And, at the time of this writing the price is back to 6 percent. How is it possible that the price will be so heavy to move?
Bitcoin is responding to the decision, the Federal Reserve
It seems that the bitcoin reacts strongly to the U.s. market. At around 13:00 hours, central european time, the Federal Reserve’s (Fed) new measures of the Us economy. For example, the Federal reserve now, $ 300 billion is available to support the provision of credit to businesses, consumers, and businesses.
The Federal Reserve announces extensive new measures to support the economy: https://t.co/k5T0cvNFdm
— Federal Reserve (@federalreserve), March 23, 2020
In addition to purchases, the Fed is not only sovereign, but also in the commercial hypotheekobligaties for as much as you need them.
Markets, the Dow Jones was at that time, it was not open to the public, but speculators have responded positively to it. The Dow Jones futures rose to a 13:00 h, a significant value. At exactly the same time, the price of bitcoin is up in the sky.
This movement can be seen in the chart below. The green is bitcoin, and it is in the red, the stock price of Dow Jones futures. In the meantime, both rates go back to what was on the decline.
When the pair bitcoin of the stock market?
It seems there is still that bitcoin is following the movements of the stock market, follow these steps. It is actually not bad, and there’s a panic in the market, and almost all of the financial markets, it will have a hard time of it. Even with the price of gold fell by nearly 15 per cent in the period between march 9 and march 20.
Analyst, Willy, But to compare the situation today with the start of the financial crisis of 2008, when there was not a single bitcoin. Gold declined for the first couple of months, at the same time, with the stock market. After about a month it started on the price of gold is disconnected.
Seeking the decoupling…
Here’s where we are in the timeline compared to the 2008 banking crisis.
Decoupling, or safe havens from inflation showing hints of it, it may have begun (i.e. when BTC and Gold go bullish). We’ll have more confirmation in a week. pic.twitter.com/rnCwKUgAJc
Willy Woo (@woonomic) March 23, 2020
The same is also waiting for bitcoin? It might be a little early to get there, what to say about it. In the next few weeks will be decisive!