These have been days of extreme volatility in the market cryptocurrencies. And is that, as the effects hardest of the Coronavirus are felt on the economy, Bitcoin, the main criptoactivo, has suffered heavy falls and rises in a matter of hours. For this reason, today we want to analyse to how much it trades Bitcoin on Binance and what are the prospects for the next few days.
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The last few weeks of our lives have been marked by an event: the Coronavirus. And that is, the disease born in China, has been able to generate a crisis of a type never before seen by humanity. Not only in the health field, with hundreds of deaths every day that you regret, but in the economic. Thus, when social distancing-the only viable strategy to deal with the health crisis that traverses the world, it causes a significant disruption in the activity of production and trade. Because, when you have to save the employees of the companies quarantine, can not attend to their jobs and make the economy follow its normal course. This has already led to the governments of the world to prepare plans, incentive billionaires, with the goal of avoiding a total collapse of their economies. Especially in front of the constant falls faced by the major stock exchanges during the last few weeks. Where we experienced decreases of up to 9.8% in a day on the New York stock exchange. A crisis in the international financial system just could not hold back a few days ago. When they reached a political agreement in the united States, to provide financial aid to the market for up to $ 2 billion. Managing to calm the markets, and get regain some of its value this week. The New York stock exchange has begun to see a recovery. Source: Yahoo Finance
The value of the Bitcoin in Binance
All of these events have had their influence in the market of cryptocurrencies. Therefore, despite the fact that the Bitcoin is considered by many financial analysts as an asset (store of value. What is certain is that, when markets began to collapse, the BTC also did. By putting in question its character as a safe haven. This is because, the criptomoneda has been found in the last days under two forces are concurrent, that have brought great volatility to its price. On the one hand, a force upward as represented by the closeness of the next Halving in its Blockchain. Which will decrease the speed in the increase of the liquidity of Bitcoin and, therefore, are expected to increase significantly its price. And, on the other hand, the already mentioned economic crisis caused by the Coronavirus, whose impact has been so profound. As it has managed to affect the confidence of investors even in assets not normally associated with the traditional markets, such as the cryptocurrencies. It is for this reason that the coming days will be presented, marked by uncertainty, as well as opportunities for the crypto world. Since, as commented the analyst of the house, Andrés Tejero, the trend for Bitcoin stands bearish at this time. Being able to reach down to the resistance of the 5.800 dollars per BTC. Price of Bitcoin on Binance during the last week. Source: Binance this Being precisely the trend that we observe in the value of Bitcoin in Binance during the last week. Where we can also visualize the drop in its share price at the day of today, which, although a slight (only 0,64%), follows the trend of the market cryptocurrencies which we have discussed in this article.