Bitcoin

Bitcoin price falls on major stock exchanges after Donald Trump’s positive coronavirus news

The news of the positive for coronavirus from Donald Trump and the First Lady of the United States, Melania Trump, early this morning this October 2nd It has caused quite a stir on the major exchanges around the world, and it has also had an impact on the price of Bitcoin.

Early in the morning while the main media made the announcements of the Melania Trump’s official Twitter account, The price of Bitcoin rose from $ 10,660 to $ 10,383 in 2 hours, a decrease of more than 3%. In the past few hours, it has rebounded above $ 10,400, a price it has been holding until the time of this writing.

Bitcoin price falls on major stock exchanges after Donald Trump’s positive coronavirus news
Bitcoin price falls on major stock exchanges after Donald Trump’s positive coronavirus news

BTC / USDT pair chart. Source: TradingView

Although neither Donald Trump nor the United States Presidency has any direct influence on the operation of Bitcoin, tEverything seems to suggest that the effect was created due to the correlation between the major cryptocurrency on the market and the SP500.

At the time of the announcement, the Standard and Poor’s 500 Index also had a sharp devaluation, which was marked in the index futures. where it lost more than 30 points and fell below the 3350 point mark.

Contrary to what some experts say about the “decoupling” that Bitcoin has from traditional markets, The move this morning is a sign that the main cryptocurrency in the market can still be affected by the moves on Wall Street.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and every step is associated with risks. You should do your own research when making a decision.

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