RATE Group | bitcoin: No virus woes for Bitcoin as it climbs to highest since November
77341
post-template-default,single,single-post,postid-77341,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

bitcoin: No virus woes for Bitcoin as it climbs to highest since November

28 Jan bitcoin: No virus woes for Bitcoin as it climbs to highest since November

Posted at 09:03h in Bitcoin News by

[ad_1]

By Joanna Ossinger

There’s one asset escaping the pounding from the spreading coronavirus: Bitcoin.

The largest cryptocurrency rose as high as $9,142.80 on Tuesday, a level last seen early November. Other coins rallied as well, with the Bloomberg Galaxy Crypto Index gaining as much as 1.7 per cent to more than a two-month high.

The increases come after last week’s poor performance in the run up to Lunar New Year celebrations, which some participants expected to trigger a slowdown in trading.

Potential explanations for the rally include Bitcoin’s potential new safe-haven status amid risk-off moves fueled by the spread of the virus. JPMorgan Chase & Co.’s Nikolaos Panigirtzoglou last week said that options on the cryptocurrency are “off to a decent start.”

Bloomberg

357123700

“Some hedge funds who do not necessarily have a fundamental view on Bitcoin direction could see opportunities in trading volatility,” Panigirtzoglou wrote in a note Friday. “The CME’s reputation and…

[ad_2]

Source link

Tags:
, , , , ,