This information was shared on Twitter by The Moon Carl, a blogger who compared the charts of the Chinese A50 index and the American stock index S&P 500 with the value of Bitcoin and the price of Gold.
BREAKING NEWS: US & Chinese stocks are crashing due to fears surrounding the #Coronavirus!
I found that Bitcoin correlates with Gold, and they are both inversely correlated with stocks!
— The Moon (@themooncarl) January 28, 2020
In the comments to the publication, the blogger noted that while everyone is waiting for the Bitcoin rate to drop in order to purchase cheaper, we observe the opposite. And subscribers express their support and optimistic in the further growth of the “first cryptocurrency”:
“$ BITCOIN will go to moon soon huh! Cant wait. Keep up good work dude 🙏✌️💣 ”
“Still thinking this is a series of 1-2s. Initial target 15K $ ”
We remind you that earlier Reuters wrote that amid reports of Coronavirus, the price of oil products on the market is falling. This may be due to concerns of investors and businessmen, who expect a decrease in oil demand due to limited visits to China and movement within the country.
Such restrictions may affect the stable operation of other international companies working with China, which will lead to losses. These forecasts negatively affect the value of exchange-traded stocks.
It is still difficult to predict the possible extent of the Coronavirus epidemic, and whether the Chinese authorities can still localize and solve the problem. In any case, this sad news is already affecting the global economy. It is logical to assume that a decentralized and independent of economic problems Bitcoin against this background looks like a more attractive investment than before.