It’s not just stocks that have plummeted. BTC and other cryptocurrencies are falling as I write this

2020-3-21 01:11

It’s been an epic week. The world has basically shut down. This new pandemic has accelerated so quickly that it’s hard to reconcile. People around the world are suddenly work-from-home status, and many of those who can’t are forced into taking their vacation days and many are getting laid off.

But it isn’t just the small and medium-sized business around the world that are taking the brunt of the damage. Bitcoin, incredibly, lost half of its value in just one day. It was previously over the 10k mark and expected to make a bull-run towards 20k, but since mid-February, it slowly made its way back down to the 8k range before plummeting on March 12th to $4000.00. Luckily it recovered about 50% of its loss and bounced back to $6000. But again fell another 18%.

A Safe-Haven Asset

Bitcoin prices were expected to soar with the investors moving money out of their stocks and bonds and into cryptos. Those who have dubbed BTC a safe-haven asset for years were finally thinking that now was BTC’s time to shine. Obviously, the real economic issues have just started, so there is still plenty of time for BTC and other cryptos to prove their backers right. But for the moment, experts and analysts are in full nay-say mode, rejecting the idea of BTC being any sort of safe-haven for our investments.

Peter Brandt recently tweeted out that the new floor is -$1000. So, if he’s correct, we could see a whole new crash coming. If you remember, Brandt was the one that predicted the 2017 spike. So, he has a history of calling it how it’s going to happen, or perhaps it’s an Allen Greenspan thing, where the market follows what he says because he said it.

If you believe this you might want to utilize some of your BTC now. Online sportsbooks accept Bitcoin. At least this way, you can instantly put them into dollars and keep the money working for you. If the price seems like it’s going to stabilize, you can transfer the funds back into your BTC wallet in a matter of minutes.

CoinTelegraph just posted that the Coronavirus Financial Crash is BTC’s Biggest Test lining out BitMEX report that Inflation is Coming. In summary, they compare this event to the 2000 DotCom crash. That said, even though this may be BTC’s biggest challenge, it’s also its biggest opportunity.

“In our view, in this changed economic regime, where the economy and financial markets are set loose, with no significant anchor at all, not even inflation targeting, it could be the biggest opportunity Bitcoin has seen, in its short lifetime.”

But even as BTC drops, Stablecoin and USDC have gained significant market share. USD Coin reached a record high of 568 million dollars. Other big names in the crypto world such as Ethereum and Litecoin are down as well. But not nearly as much as the mother of them all, BTC, as of Monday, LTC is down around 8% but close to 50% since the beginning of March and Ether about 12%. As of March 11th ETC was hovering around $6.50 and since it plummeted down $3.48 on March 12, it has climbed back more than a dollar to $4.54. Sunday/Monday saw prices as high as $5.15.

Will BTC prove it’s worth?

Well, it may. There is not much more the Central Banks can do. The FED already slashed interest rates to near zero. Snatching up more debt won’t be helpful. And with inflation predicted to set in – not just some inflation, but a shocking amount will BTC be the answer? Gold and like commodities are looking like a safe bet, but can BTC shine?

We’ll have to wait and see.

The post It’s not just stocks that have plummeted. BTC and other cryptocurrencies are falling as I write this appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

LALA World (LALA) на Currencies.ru

$ 0 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: 9.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0009669 (-100%)

world many status work-from-home reconcile around suddenly

world many → Результатов: 126


Professions of the future in the world of blockchain technology and cryptocurrencies, which niche to occupy?

Blockchain technology and cryptocurrencies have given the world many opportunities, although many may not realize it, do not notice it, or even deny it.   First of all, for people from anywhere in the world, there is an opportunity to self-actualize and acquire financial independence with a balanced approach to investment and self-control.

2021-6-8 17:50


Фото:

Tim Draper Believes Bitcoin Will Save The Day When The World Returns To Normalcy, Not Governments Or Banks

Last week was undeniably one of bitcoin’s worst week characterized by a brutal sell-off and flash crashes as investors grappled with the coronavirus pandemic that has rocked the whole world. With so many countries now in lockdown, world leaders and central banks have made stopping further spread of the virus their highest priority. Besides the […]

2020-3-17 14:38


Crypto Embraces VR as Virtual Conferences Replace Physical Events

Remote bitcoin events have been boosted by the postponement or cancellation of real world crypto conferences due to the coronavirus outbreak. With many employees now working from home where possible, firms have begun switching to virtual meetings, prompting renewed interest in VR equipment and hinting at the decentralized future of crypto meetings and events.

2020-3-13 06:30


The world gold miner tokenizes assets and opens trading on Coinsbit, Simex and P2PB2B exchanges

Recently, in search of easy and big profits, to the crypto market have come many new investors who thoughtlessly invested money and manipulated the price of cryptocurrencies, as a result of which thisThe post The world gold miner tokenizes assets and opens trading on Coinsbit, Simex and P2PB2B exchanges appeared first on AMBCrypto.

2020-3-11 12:45


Doomsday Clock Nears Midnight, Time to Buy Bitcoin?

The Doomsday Clock is now closer than its ever been in its 73 year history to spelling out the total destruction of mankind. Surely it must be Bitcoin o’clock now?  The world’s experts sound the alarm Amid the rumors that Bitcoin and other Proof of Work (PoW) cryptocurrencies are unsustainable drains on the environment which consume too many resources, The Bulletin of Atomic Scientists has updated the famed Doomsday Clock to 100 seconds closer toRead More The post appeared first on Bitcoinist.com.

2020-1-26 05:00


Cryptocurrencies' legitimization shouldn't be restricted by AML risk: Perianne Boring

2019 saw regulators around the world paying serious attention to cryptocurrencies and its regulation. Even though many countries are still skeptical about digital assets, some have embraced crypto, alThe post Cryptocurrencies' legitimization shouldn't be restricted by AML risk: Perianne Boring appeared first on AMBCrypto.

2020-1-18 12:00


Ethereum’s Hard Fork ‘Muir Glacier’ Launches In 2 Days, Will The ETH Community Be Prepared?

While the entire world is preparing for the New Year, Ethereum has scheduled Muir Glacier, its long-awaited hard fork, for January 1 of the year 2020. The Ethereum (ETH) Istanbul hard fork that happened just a few weeks ago didn’t make things easier when it comes to Ethereum’s so-called “difficulty bomb”, so many are expecting […]

2019-12-30 22:01