It seems that Bitcoin is fast becoming a safe haven asset as it response positively to European Central Bank (ECB) cutting interest rates which is a potential event that has caused the Euro to plunge to two-year lows.
Bitcoin is up in value trading 4% at $10,015 from its daily lows of $9,600 which seems to be in response to news that ECB would be cutting interest rates for the first time in several years.
The negative news has no effect on Bitcoin which has been increasingly becoming the digital gold or Gold 2.0 bolstering the widely accepted fact that the emerging asset class as no correlation or at least a positive correlation with traditional markets.
Only time will tell if Bitcoin will become a currency or as a safe haven asset but one thing is for sure the price action of this new asset class is entirely separate from that of the global economy.
Headlines for the world of Cryptocurrencies - July 25, 2019
- Pantera CEO Predicts $356,000 Price Of BTC
- CME Bitcoin Futures Predicting Bearish Trend?
- Newegg Now Supports Crypto Payments
- U.S. Regulators Now Ready To Examine Crypto And Blockchain Regulatory Frameworks
- Trust Wallet Integrates With Kyber Network
Headlines for the world of Cryptocurrencies - July 24, 2019
- The Complicated Relation Of Crypto To China
- New York Times Using Blockchain To Combat Fake News
- Philippine Bank Completes Blockchain-Enhanced Remittance Pilot
- There Is Real Demand For Bitcoin According To TD Ameritrade CEO
- U.S. Crypto Ban Will Not Destroy The industry
Headlines for the world of Cryptocurrencies - July 23, 2019
- Cryptocurrency Viable Alternative For Israel Shekel According To Palestinian PM
- 30 Million Coinbase Users And Counting
- The Iranian Government Recognizes The Crypto Industry
- Bitcoin Futures Heating Up
- Utah Now Utilizes Blockchain Voting
