Bitcoin jumped the most in two weeks Monday, surging alongside U.S. stocks amid speculation that the Federal Reserve and other central banks will support markets as the coronavirus spreads.
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.
Bitcoin prices slid Tuesday after the U.S. Federal Reserve announced an emergency cut in interest rates to counteract risks to the economy from the spreading coronavirus.
Fed Chairman Powell has given financial privacy advocates a glimmer of hope – and hinted at how the U.S. might competitively position a digitized dollar.
Bitcoin’s price is trending solidly back above the five-digit figure mark.
