Bitcoin Sees 9% Gain as Turmoil Hits the Forex Markets
Bitcoin is gaining amid a selloff in most fiat currencies and could rise further if the U.S. stock markets track European equities higher.
The Federal Reserve has announced a quantitative easing package with no upper limit to support the U.S. economy amid the coronavirus crisis.
Bitcoin, the S&P 500 and the Dow Jones are staring at bearish chart patterns as coronavirus jitters across the markets fail to subside.
Bitcoin looks on track to test $7,000 soon, as the stock markets are rising with the Federal Reserve's open-ended easing plan.
The ASX fell sharply during its opening session Monday after Australia's Prime Minister announced drastic measures to curb the spread of coronavirus.
Bitcoin shot past $6,800 on Friday, helping the cryptocurrency erase a significant portion of its recent losses.