Tag: Coronavirus

US dollar strength mimics 2020 Coronavirus crash — 5 things to know in Bitcoin this week

William Suberg

Bitcoin (BTC) starts a new week with all quiet on traditional markets but a storm brewing in crypto. As the Easter long weekend continues for the United States and much of Europe, traders are keenly eyeing whether Bitcoin can stay stable for four days without professional investor involvement. So far, the picture has not favored bulls — since Good Friday, BTC/USD has been characterized by sideways action punctuated by episodes of sudden volatility to the downside. That continued overnight into Monday, and now, $40,000 is once again out of reach.…

We May Expect a Bitcoin Rally If Coronavirus Breaks Into a Second Wave

TradingBTC

COVID-19 has become a defining moment in the course of our society, but the impact of the pandemic can be seen through its effects on the economy and society in general. From the perspective of a Bitcoin (BTC) investor, there are many things to consider. Coronavirus emergent patterns determine how the infection spreads and sets the society on a particular course into the future. The impact of the novel coronavirus on consumer society has been tremendous. The effect has mostly been seen as the closure of workplaces, resulting in people…

Australian Watchdog Warns of Spike in Crypto Scams During Coronavirus Pandemic

TradingBTC

The Australian Securities and Investment Commission (ASIC) has identified a sharp rise in investment scams during the coronavirus pandemic and has singled out crypto-related fraud as a particular concern. Between March and May 2020, investment scams of all types have reportedly risen by 20% as compared to the same period in 2019, according to ASIC’s announcement on June 24. Criminals appear to be attempting to take advantage of the economic insecurity that many citizens are facing during the crisis. ASIC’s executive director for assessment and intelligence, Warren Day, warned that…

US Markets Rebound to Recover All Coronavirus Losses — What About Bitcoin?

TradingBTC

The Nasdaq, an index which primarily represents tech stocks like Amazon, Microsoft, and Alphabet, has surpassed 10,000 points to hit a new record high. The move above 10,000 effectively erased all the losses suffered from the coronavirus pandemic, yet, the price of Bitcoin (BTC) remains 50% down from its record high at $19,665. Bitcoin was seemingly correlated with the U.S. stock market throughout March, but now the digital asset is seeing a decline in momentum following a 167% increase in price within three months. The bullish trend and V-shaped recovery…

Revolut Confirms Firing 62 Employees in the Wake of Coronavirus

TradingBTC

Revolut fired a number of employees since the coronavirus outbreak began, according to a story from Wired. The European fintech company responded with a statement on the numbers and rationale. “As in many companies, COVID-19 necessitated cost cutting across our business and, in the last resort, we made 62 redundancies globally, representing less than 3% of our staff,” a Revolut spokesperson told Cointelegraph on June 5.  Revolut allegedly asked staff to quit   Job redundancy refers to a certain title or position that companies determine as obsolete or no longer necessary,…

Revolut Reportedly Fires Dozens of Employees for Coronavirus Cost-Saving Reasons

TradingBTC

In an effort to trim expenses, European fintech outfit Revolut has allegedly urged employees to leave, according to staff interviewed by Wired. “Some of the employees allegedly pressured to leave have been left stranded in a foreign country without a job or health insurance in the middle of a pandemic,” describes author Emiliano Mellino, collecting stories from multiple Revolut employees. The company reportedly staffed a great number of employees at multiple locations around the world — Krakow, Poland in particular. The Wired report also notes: “While the Polish government has…

Coronavirus Lockdown Boosts Bitcoin Trading in Russia

TradingBTC

On June 4, a new study performed by a number of Russia-based crypto exchanges revealed a significant rise in Bitcoin (BTC) trading across Russia since March amid the COVID-19 lockdown. As RBC reports, representatives from the Russian offices of exchanges like Binance, Garantex, and EXMO, highlighted the growth in the number of users in Russia. This number is relative to the increase in trading volumes from March until June. Boost in registrations from Russia users Gleb Kostarev, head of the representative office of Binance in Russia, explained that the number…

Bitcoin May Thrive Despite Coronavirus

TradingBTC

The CEO and co-founder of Bitcoin (BTC) investment app Amber, Aleks Svetski, said he thinks the COVID-19 pandemic has bolstered Bitcoin awareness.  “COVID was one of the best marketing campaigns for Bitcoin in history,” Svetski told Morgan Creek Digital co-founder Anthony Pompliano in a May 13 podcast episode.  Coronavirus has caused global uncertainty Since taking center stage as an official pandemic in 2020, governmental coronavirus prevention actions have caused business slowdowns, rising unemployment numbers, and falling markets. The U.S. government has taken several measures to right the sinking economy, including various…

Five Things to Do Other Than Worry About Coronavirus and Bitcoin Price

TradingBTC

Let’s face it: Whether you’re an avid crypto enthusiast or just mildly interested in this blooming industry, chances are you’ve read, seen or heard more stories about the coronavirus and the Bitcoin (BTC) halving than you’d probably like to.  In all fairness, the coronavirus led to the world has collectively agreeing to press pause in an unprecedented manner, so the fact that a global pandemic happens to be taking place around the same time as the most important event in crypto means that full-on, 24/7 media coverage is to be…

A Quarter Million Deaths Later, Dutch Team Finds Coronavirus Blocker

TradingBTC

A Dutch team may be on to a cure for the SARS coronavirus. In a report published Monday, researchers say they’ve stopped the virus from spreading in cell cultures with a potent antibody. Many lives and an economic recovery hang in the balance as scientists race for a safe, effective coronavirus treatment. Since spreading from an animal “reservoir” within the ecosystem to humans, the coronavirus or SARS‑CoV has caused over 250,000 deaths. Biotech companies and university labs have been racing to find a vaccine or antiviral treatment. Now a team…