Bitcoin has made further progress over the weekend in a move back to resistance at $8,600. Gold prices moved upwards also but this time oil went in the opposite direction, could this be a sign of things to come?
Bitcoin Safe Haven Redux on Virus Fears
Bitcoin has made around 5% since the weekend started and is back at resistance at $8,600. The move coincided with the escalating fears of the Chinese Coronavirus spreading globally, which is causing widespread disruption across the world.
The Chinese yuan has fallen and stock markets across Asia are in retreat as travel restrictions come into force and the number of infected rises.
Regional markets in China remain closed for the Lunar New Year but Japan’s Nikkei 225 index sank 2%. India’s Sensex also lost ground and Thailand’s SET fell 3% on the fear of a wider impact on tourism…
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