Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears

Bitcoin is maintaining its upward trajectory as coronavirus-led risk aversion hits the traditional markets. The top cryptocurrency by market value crossed the 200-day moving average at $9,000 during Tuesday’s Asian trading hours and rose to a high of $9,150, pushing the cumulative month-to-date gains to over 25 percent. At press time, bitcoin is changing hands at $9,061. Despite the minor pullback from the morning’s high, the cryptocurrency is still reporting a 4.8 percent gain on a 24-hour basis, and is up roughly $700 from lows near $8,250 observed over the…

BTC Price Back at $9,000 But No, Coronavirus Isn’t ‘Good for Bitcoin’

Bitcoin (BTC) may be gaining thanks to “economic fear” over coronavirus — but only up to a point, analysts are concluding as the disease spreads.  The cryptocurrency hovered at around $9,000 on Tuesday, capping 4% gains for the week in which coronavirus sent China into partial lockdown.  Coronavirus uncertainty creeps into markets Fears are now surfacing about the impact on Chinese economic growth, while global signals also suggest investors are more cautious about the short term.  For Cointelegraph Markets analyst Mati Greenspan, the sentiment is already palpable. Uploading a chart…

How Coronavirus Outbreak in China Could Weigh on Crypto Prices

Jason Wu had to cancel a dozen meetings with his crypto clients in China after the coronavirus epidemic broke out this month.  “We planned a 10-city tour to talk with potential clients in China,” Wu, the CEO and founder of non-custodial crypto lender DeFiner, said. “Nobody wants to attend any crypto-related conferences or any meetings at all because of the virus, we have to rearrange everything.” Since the first patient was identified on Dec. 8  in Wuhan, the capital of Hubei province in central China, the virus has claimed 80…

Crypto and Blockchain Firms Pitch In to Help Coronavirus Victims

Some blockchain and cryptocurrency firms have pledged to help victims of the coronavirus in Wuhan, China. Cryptocurrency exchange Binance pledged to donate 10 million Chinese yuan ($1.44 million) to the effort. In a tweet on Jan. 25, Binance CEO Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article about cryptocurrency donations being accepted for the cause: “For #Wuhan, not realistic to do crypto to end beneficiaries. Binance pledged 10m RMB ($1.5m USD) to help #coronavirus…

‘Nothing Special’ — Bitcoin Slumps 6% on Coronavirus, Chinese New Year

Bitcoin (BTC) has shed 6% in a week thanks mainly to Chinese New Year and uncertainty over coronavirus, commentators are suggesting. Analyzing Bitcoin price data along with Chinese stocks’ performance on Jan. 24, social media resource Light said a slump in performance had spread to cryptocurrency. Cryptocurrency market daily overview. Source: Coin360 Stocks correlation shows Bitcoin’s “global stage” Over the past several days, it notes, Bitcoin has in fact broadly correlated with stocks. Such behavior is reminiscent of what many perceived as a reaction to another global event — the…

Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Haven

Bitcoin prices on Friday are plunging after marking their highest levels in over two months, hurt by an improving outlook of the eurozone economy, the stronger dollar, and – none the least – the Coronavirus outbreak in China. The benchmark cryptocurrency’s spot rate fell by 1.66 percent to $8,246.14 as of 11:20 UTC today. At the same time, its futures listed on Chicago Mercantile Exchange (CME) slipped 1.49 percent to trade at $8,245. The moves downhill put bitcoin at the risk of closing this week in red, it’s first negative session…

Bitcoin Plunges on Profit-taking, Losses Limited by Coronavirus Outbreak

Bitcoin entered a negative slope on Thursday as traders took profits from its latest price rally. But the cryptocurrency remained above a strong technical support level. Spot BTC/USD exchange rate was down 3.84 percent at $8,360.87 ahead of the New York morning session open. At the same time, bitcoin futures listed on CME fell by more than 6 percent. to $8,385. $BTC #BITCOIN Getting towards the area, which is basically the high from 8 January. Given that everybody wants to long $8,200-8,250, I doubt we’ll reach it, if we are…