Bitcoin Responds To Coronavirus Threat As Risk-off Asset, Gold Gains Too

Bitcoin displays powerful bounce on the daily chart – is fear about the Chinese coronavirus the reason?

Risk-on drops, risk-off pops

I’ll be honest – something seems a little off with the mysterious virus in China. So far, the quarantine affects roughly 50 million people in China – the most extensive quarantine in history. The other thing that freaks me out is that China’s Communist Party is surprisingly ok with these announcements – that is very odd. The Chinese Community Party is big on saving face, so this current move on the government’s part is worrying. Don’t spend any time on Reddit or YouTube if you want to maintain a non-paranoid state because some of the footage and images that the ordinary Chinese citizen is posting is pretty damn scary. Here in the US, we’ve had two confirmed cases in Seattle, Washington, and Chicago, Illinois – which is just a few…