Bitcoin Volume Gains Traction After 24-Hour Roller-Coaster Ride

Bitcoin prices have been on a roller-coaster ride since Sunday afternoon after the Federal Reserve slashed rates a full percentage point to the vicinity of 0 percent and promised to pump $700 billion into the U.S. economy.  After initially rising on the news and then falling, the cryptocurrency’s buying volumes have picked up.

It’s been an active 24 hours.

The central bank’s drastic measures, taken to offset possible effects of the coronavirus on the U.S. and global economy, included its fourth trip to the quantitative easing (QE) well. However, this action of buying Treasurys and mortgage debt spooked an already nervous stock market, prompting major sell-offs in equity markets all over the world. 

Trading in futures contracts on the Dow Jones Industrial Average were briefly halted Sunday evening when their decline triggered circuit breakers. Japan’s Nikkei 225 Index also had more sellers than buyers.

Meanwhile, bitcoin’s (BTC)…