After a Wild Ride, Stocks Take a Breather and Crypto Bounces Back
Cryptocurrency markets stabilized somewhat as traditional financial markets found some footing Tuesday.
American and European equity markets extended their gains on Thursday while major cryptocurrencies made only slight moves on the day.
The $2 trillion stimulus deal in the U.S. wasn’t enough to keep many cryptocurrencies from taking a dip Wednesday.
Bitcoin had another down day. How long the cryptocurrency follows stocks, and whether next month’s halving juices its price, remain open questions.
Financial markets rebounded Tuesday after prospects for a stimulus package out of the U.S. Senate improved. Most cryptocurrencies are gaining, too.
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.
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.