Cryptocurrency
Bitcoin Price Holds Surprisingly Well as S&P 500 Futures Crash 5% in 5 Minutes
As reported on NewsBTC, “Bitcoin has held surprisingly well over the past hour, despite global markets opening dramatically lower (by traditional standards) than they were during Friday’s close. In fact, the futures for the S&P 500 and the Dow Jones have all hit their limit down (circuit breaker) of 5%, with the former reaching 2,174 […]
As reported on NewsBTC, “Bitcoin has held surprisingly well over the past hour, despite global markets opening dramatically lower (by traditional standards) than they were during Friday’s close. In fact, the futures for the S&P 500 and the Dow Jones have all hit their limit down (circuit breaker) of 5%, with the former reaching 2,174 and the atter falling to 18,085, per data from TradingView.
“With this, the S&P 500 is now more than 35% lower than its high above 3,300, established literally just a month ago. Bitcoin, on the other hand, has fallen 43% from its February high of $10,500 to $6,000, where it trades at as of the time of this article’s writing.
“The stock market’s latest bout of weakness, which may affect Bitcoin, is seemingly a result of a confluence of news regarding the spread of the coronavirus-caused illness COVID-19 and the related economic effects of this outbreak…”