Analytics / Forex and Crypto News
Today, Bitcoin is showing a rebound from its low of $7636, which it reached on March 9th. Today, Bitcoin peaked at $8158. This rebound gave hope for the beginning of a new rise in the price of Bitcoin.
Today, the options market has also shown growth. When the spot price recovered, options contracts for cryptocurrency also reached record volumes on several exchanges, and almost $200 million worth of bets were made.
Today, optimistic forecasts for the price of Bitcoin began to come, however, traders are careful in their actions. Many analysts attribute the decline in Bitcoin prices to Coronavirus, and its expansion is only increasing in Europe at the moment. And now it’s hard to assess the extent to which the virus can damage the global financial market. And this forces investors to exit high-risk assets such as cryptocurrencies and invest their capital in traditional capital refuges with less risk.
One example is Altaf Kassam, who recently said that his fund transferred the capital from stocks to fiat money to protect it against market volatility. As a result of the sale of stocks, stock markets collapsed. Many investors selling stocks bought bonds because the coronavirus raised concerns about a prolonged economic slowdown. Bonds have risen significantly in recent years.
Investors are not yet ready to consider cryptocurrencies as a haven for capital since cryptocurrencies on a normal day are more volatile than stocks on a hard day. So far, investors remain committed to less risky methods. A serious increase in the price of Bitcoin can be expected when bonds begin to bring negative returns.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov