After a Wild Ride, Stocks Take a Breather and Crypto Bounces Back
Cryptocurrency markets stabilized somewhat as traditional financial markets found some footing Tuesday.
Bitcoin Satoshi’s Vision was created out of the hard fork of Bitcoin Cash (BCH) on November 15, 2018. A segment of the ecosystem wanted to increase the blocksize greater and faster as well as limit potential smart contract features. They split was led by nChain’s Chief Scientist, Craig Wright, who is also renowned for claiming he was Satoshi Nakamoto, the original founder of Bitcoin, without extensive evidence. Since it’s forking, it has consistently remained in the top 20 coins by market cap. It also migrated businesses and developers from BCH to its ecosystem. It seeks to emulate the proposed original vision of bitcoin through emphasis on scaling onchain as fast as possible.Blockchain 101
The March 12 crash is still fresh in crypto traders’ and fund managers’ minds, leaving some to think no trading decisions are the best decisions for now.
Gold is up Monday and so are most cryptocurrencies, seemingly buoyed by the U.S. Federal Reserve's drastic action to thwart the coronavirus’ effects on markets and the economy.
Crypto prices climbed with traditional market indexes Monday as traders wondered if bitcoin will remain a follower or break out and blaze its own path.
Traditional markets continue to struggle during the coronavirus crisis while cryptocurrencies are seeing an upswing.
Prices in the crypto market are seeing such a steep upward trend that arbitrage traders are able to trade between exchanges to easily capture profit.