Global sell-offs
Bitcoin has fallen to a monthly low of below €7.000. At the time of writing, the world's largest cryptocurrency declined 10% in the past 24 hours.
The price decline comes together with a broader sell-off in the global financial markets. Crude oil dropped 30% on Sunday (March 8th 2020), this is the most significant decline since the start of the first Gulf war in 1991.
Gold faced a comparable sell-off a few days ago, but that gap lasted only two days before it rushed up again. The precious metal is currently trading at the highest rate in more than seven years. The upcoming days will show if Bitcoin follows a similar pattern.
Is Covid-19 (Corona) the cause of this all? No, it might have been the trigger, but currently, there is a lot of uncertainty in the world, for example, Britain exiting Europe & ongoing trade-wars.
The price decline comes together with a broader sell-off in the global financial markets. Crude oil dropped 30% on Sunday (March 8th 2020), this is the most significant decline since the start of the first Gulf war in 1991.
Gold faced a comparable sell-off a few days ago, but that gap lasted only two days before it rushed up again. The precious metal is currently trading at the highest rate in more than seven years. The upcoming days will show if Bitcoin follows a similar pattern.
Is Covid-19 (Corona) the cause of this all? No, it might have been the trigger, but currently, there is a lot of uncertainty in the world, for example, Britain exiting Europe & ongoing trade-wars.