Drastic measures are being taken by the Federal Reserve as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses.
Bitcoin is often lumped in risky assets like growth stocks, high yield debt, high beta ETFs, venture capital, and emerging markets. In fact, it has many hallmarks of a safe haven in a crisis.
As U.S. stocks tumbled on Monday by the most in six months amid renewed coronavirus fears, bitcoin barely budged - at least in terms of the notoriously volatile cryptocurrency’s trading history.