Users See ‘Buying Opportunity’ in Coronavirus Market Downturn, Says Crypto.com
Retail interest in cryptocurrencies is growing as COVID-19 shakes markets and central banks take drastic steps to steady the global economy, the firm says.
Some cryptocurrencies are hairier rides than others. But there may not be much difference in price volatility between the top two in the months ahead.
Bitcoin had another down day. How long the cryptocurrency follows stocks, and whether next month’s halving juices its price, remain open questions.
Bitcoin trended higher along with many traditional markets Tuesday before changing direction and falling as U.S. stock trading closed.
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.
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.
Bitcoin prices have been on a roller-coaster ride since Sunday afternoon after the Federal Reserve slashed rates a full percentage point and promised to pump $700 billion into the U.S. economy. But now bitcoin volume is picking up.