RATE Group | Bitcoin and Gold Prices Rise, Oil Slumps as China Struggles to Contain Coronavirus
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Bitcoin and Gold Prices Rise, Oil Slumps as China Struggles to Contain Coronavirus

27 Jan Bitcoin and Gold Prices Rise, Oil Slumps as China Struggles to Contain Coronavirus

Posted at 08:35h in Bitcoin News by

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Gold and Bitcoin prices are turning bullish as China struggles to contain the Coronavirus. The death toll due to the virus keeps on increase, reportedly over 80 now.

Patients of the epidemic has been reported across 15 countries including South Korea, California in the US, Thailand, Pakistan and so on.

The condition is strongly affect global trade as countries all around the world are breaking all contact with China. The virus is air-borne and all international borders are at alert for people coming from China.

gold usd macro push
Gold/USD 1-Day Chart (TradingView)

Moreover, oil and not unexpectedly Chinese investments are in a speed downfall. China is one of the leading importers of crude oil, the demand in the country is decreasing as it fights the deadly virus. The price of oil dropped to lows around $52 with $3 dive.

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The adverse effect on the global trade is yet again driving the investors to safe haven like Gold. The price surged past $1550, it broke below after the…

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