Bitcoin Diverges From Falling Equities With $500 Price Rise
Bitcoin rose by 7 percent early on Monday even as the risk-off mood returned to the traditional markets.
The options market shows just a 4 percent chance of bitcoin crossing above $20K before year’s end, according to data from analytics firm Skew.
While bitcoin has recovered sharply from recent lows below $4,000, the cryptocurrency is still on track to end March with a double-digit price loss.
Bitcoin ended the first quarter of 2020 down from the start of the year, but not as badly as the record-setting losses suffered by global equities.
Should markets temporarily close even temporarily to calm investor panic? Noelle Acheson says no while crypto markets can’t. Both are good things.
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.