Cryptocurrency

Coronavirus & the fear of the world losing more epidemic: Bitcoin and share in the journey

The message that the Coronavirus is widespread, apparently rapidly worldwide, has Bitcoin and the shares plummet. The markets fell during the night by up to a whole percentage, and Bitcoin followed this Trend.
The news of two ill persons in the U.S. was confirmed by the “Center for Disease Control” (CDC). Both persons were infected recently, in Wuhan, China, and stopped probably there. A further 63 potential victims are currently being tested.

Chinese New Year

The outbreak and the subsequent reaction will come in a particularly painful time of the year. With the moonlight-new year and the beginning of festivities, travel, and trade between China and the United States should have taken. This is now restricted again.
Also, the Chinese economy is feeling the weight of the news as the shares have fallen dramatically. In addition, US plug in companies such as Disney and McDonald’s temporarily out of business.

Impact on the Bitcoin market

The retreat of the equity markets, however, is slightly different than the losses in the case of Bitcoin. Bitcoins rally had brought the asset in the vicinity of $ 9,000. This figure is still far short of the all-time highs (ATH). Although the retreat was, however, relatively considerably, it seems a return to previous levels of Support reflect.
The shares were recorded, however, in the last weeks dramatic ATHs. The withdrawal is more likely to be due to a gross Overestimation as to the Virus. According to analysts, the market has experienced in the last few days is an unrealistic euphoria, which is why a retreat was expected.
Since the stock markets are now, however, due to messages, and Overvaluation could Bitcoin win in the short term. Even if the market remains with low losses and relatively stable, we will start the investors likely to take profits.
Since the market is looking for a strong year for places to move to profits, investors may consider Bitcoin as a hedge.
In addition, the Coronavirus also reveals the relative fragility of international Finance. Bitcoins ability to move easily across international borders, could provide the type of financial mechanism is needed during a viral crisis.

Coin-Update.de is a pure information platform, created to the best of our Knowledge and belief content. Completeness, accuracy, timeliness, and accuracy cannot be guaranteed, this is also true for exchange rate movements and information. On Coin Update published content, opinions, information, etc. are used exclusively for Information purposes and are not geared to individual requirements investment advice, and not knowledgeable. The published content neither buy nor sell recommendations by financial instruments, nor are they to be understood as a guarantee or warranty of certain price movements. The analyses, opinions, estimates, information or simulations to the historical price or value development of a financial instrument, as well as forecasts for future events, or developments, of the financial instruments presented are not reliable and sound indicators of value development. Historical events are not a guarantee of future profits. Forecasts also contain unforeseeable risks and factors that can be estimated from the outset, never a hundred percent. This may lead to actually occurring events, price movements and other factors that differ considerably from the on Coin Update published information. In addition, obliged to Coin Update, to keep track of the forecasts, or be adapted later on. Investments in digital currencies are associated with high risk, the total loss cannot be ruled out and is possible at any time. The use of the information in this media platform is at the user’s own risk. The contents of the Coin-Update are only opinions and are not subject to any quality control, as a basis for decision-making, in particular for the financial investment, or investment that is suitable, and are intended solely for General Information and discussion. In the case of Coin-Update is not investment advice, purchase or sale recommendations or make informed predictions about the value of development. The content published on Coin Update, this represents only the opinion of the author or authors. The contents do not constitute advice in the broadest sense, and is no substitute for individual legal or tax advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

Do NOT follow this link or you will be banned from the site!