Bitcoin Fails As An Anchor Of Stability

Bitcoin Fails As An Anchor Of Stability


Bitcoin and the whole crypto market is also crashing on this Thursday. At times, the cryptocurrency dropped to a little bit above $ 6.000. "Bitcoin and Co. have been using the stock markets as a model for weeks," commented the German market analyst Timo Emden. And further he thinks:

"The disappointment resonates with investors to this day that the digital thaler cannot prove to be a kind of 'safe haven' in the times of Corona. The investors are currently fleeing all risky assets. From the thought of an attractive investment alternative in turbulent Times, they have to say goodbye for the first time since this week."

Also today verything is moving faster than everyone expected. After Bitcoin closed a daily close above the crucial $ 7,700 mark, BTC only started a reset a few hours ago, dropping to $ 7,400.

The decline in the leading cryptocurrency following a temporary recovery to $ 7,950 is due to the coronavirus continuing to spread and spread fear among investors. After President Donald Trump's speech, in which he revealed that all travel from Europe to the United States would be suspended for a month, the futures for S&P 500 and Dow Jones began to fall.

It seems that Bitcoin is failing as an anchor of stability. But nevertheless, I believe that right now in this crisis it is a good time to buy Bitcoin and crypto. I recommend Coinbase to buy and manage your Bitcoins (BTC).

I hope I could provide you with some short but useful information.

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