RATE Group | Bitcoin regains safe-haves status, moves in sync with gold amid coronavirus scare
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Bitcoin regains safe-haves status, moves in sync with gold amid coronavirus scare

27 Jan Bitcoin regains safe-haves status, moves in sync with gold amid coronavirus scare

Posted at 11:39h in Bitcoin News by

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  • Bitcoin may confirm its status as a safe-haven asset.
  • BTC/USD recovery may slow down on approach to $8,900.

Bitcoin (BTC) resumed the upside after a short-lived consolidation period. The first digital currency has gained over 3% of its value in recent 24 hours to trade at $8,620 at the time of writing. Despite the retreat from the intraday high of $8,679, Bitcoin continues moving within a short-term bullish trend amid expanding volatility.

Bitcoin to move in sync with gold

Shares tumbled on Monday as investors grew increasingly anxious about the economic impact of China’s spreading virus outbreak, with demand spiking for safe-haven assets such as the Japanese yen and Treasury notes.

Stock markets and oil prices collapsed on Monday amid growing fears and anxiety about the economic impact of China’s spreading virus outbreak. The traditional safe-haven assets such as gold, silver,  Treasury notes and Japanese Yen have been gaining ground during early…

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