Meanwhile, bitcoins recent price volatility is continuously increasing due to global economic slowdown caused by the Coronavirus and the refusal of Wilshire Phoenixs Bitcoin ETF.
I agree the price hampered with the rejection if the ETF but dont on the part of Coronavurus spreading. This isnt a stock market affected by certain reason such as airlines, hotel, and most business that have soemthing to do with international affiliation. Chinese business were probably affected but for the digital currency, I doubt this can affect much.
Due to what is happening in China, not only the Chinese business is suffering, but also the business of other countries that have their own production capacity in this country. One could assume that coronavirus has a big impact on the global economy, but many analysts are already talking about a big crisis that causes a negative phenomenon. But it seems to me that in the next crisis, the cryptocurrency market can, on the contrary, show very good results, since with the help of cryptocurrency many investors will be able to save their assets.
They suffer so much from this virus and provably it can create a huge recession to the price of bitcoins since Chinese are one of the biggest market of crypto and for the dumps we see right now maybe its sort of related into these events and let's hope that this unfortunate virus will gone since if China will fail the whole global economy is at risk.