Connect with us

Bitcoin Hits 16-Month High Despite Sell-Off in Global Stocks

Crypto gist

Bitcoin Hits 16-Month High Despite Sell-Off in Global Stocks

Bitcoin (BTC) prices continue to rise, even as the coronavirus problem shakes the market.

Bitcoin was trading at $ 13,420 at the time of writing, gaining 2.77% that day.

This represents a maximum of 16 months of cryptocurrency, currently 25% per month and 87% in the same year.

The Bitcoin market is also showing no signs of panic among investors.

Daily cryptocurrency deposits and trades fell to 26,889 on Monday. In addition, the number of bitcoins used for the exchange fell to a two-year low of 2,478,799 BTC, according to data source Glassnode.

For example, bitcoin’s trend continues despite a crash in the global Wall Street market, the S&P 500 fell nearly 2% on Monday due to coronary heart disease issues.

The drop in deposit volatility indicates that investors have no issues with the regular stock market and don’t see small issues with Bitcoin affecting the size of the stock market. Investors remove coins from their wallets when they expect a price to change and when they expect the cryptocurrency to rise to maintain its value. .

In a way, we’re seeing the fatigue of the positive relationship between bitcoin and the S&P 500 since the March rally. Download Report

Continue Reading
You may also like...

Writer in Tech and Crypto Niche

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Crypto gist

To Top